The UK employment rate continues to confound experts as results published today by the Office of National Statistics show that a record 29.6 million people are now in work, a rise by 40,000 between August and October.
The UK unemployment rate held at 7.8 percent in the same quarter, as the amount of people out of work fell by 82,000. Around 2.51m were registered as out-or-work, the lowest total since the March to May period in 2011.
It's not all good news though, as the ONS said that average weekly earnings rose by only 1.8 percent compared to this time last year in the three months ending in October, well below inflation. When stripping out bonuses the earnings figure advanced by a slower-than-expected 1.7 percent.
The data comes as investors appear increasingly concerned that the UK could slip back into a "triple-dip" recession if the economy shrinks this quarter and in the first three months of next year. Analysts expected a modest 0.2 percent dip in output for the final three months of this year and meagre growth of around 0.1 percent in the first quarter of 2013.
Written and presented by Alfred Joyner