UK unemployment rate has hit its lowest rate in more than a decade but wage growth shows a slower rate than forecast.
In the three months to November, UK unemployment rate settled at 5.1%, which is its lowest rate since the three months to October 2005. This is according to the Office for National Statistics.
Over the three-month period, the number of people out of work fell to 1.68 million, showing a 99,000 fall.
However, average weekly earnings that include bonuses were up 2%, which is its slowest increase since February. This was also below the 2.1% growth forecast in a Reuters survey.
The Office for National Statistics also said that average weekly earnings growth, which does not include bonuses, slowed to 1.9%.
Employment rate hit 74%, which is the highest since records began in 1971.
Despite this, the most recent ONS figures state that almost 23 million people are now in a full-time job, which is 436,000 more than the year before. There are also 8.4 million people in part-time jobs, which is an increase of 152,000.