The Office for National Statistics has confirmed that the UK’s unemployment rate has fallen to 7.2%.
The latest data reveal that the number of unemployed people in the country for October to December 2013 was 2.34 million, down by 125,000 from the previous three months.
But Nick Palmer, senior labour market statistician at the Office for National Statistics, struck a downbeat note on the number. 'The main conclusion that should be drawn from these latest figures is that the rate at which unemployment has been falling is likely to have slowed down,' he said.
The actual employment rate for those aged 16 to 64 during the period stood at 72.1%, up 0.3 percentage points from the prior quarter.
Between October to December 2012 and October to December 2013 total pay rose by 1.1%, while regular pay edged up by 1%.