Unemployment rate drops to 7.1%

22 January 2014 Last updated at 04:43 ET

The UK unemployment rate has dropped to 7.1%, the Office for National Statistics has said.

The number of people out of work fell by 167,000 to 2.32 million in the three months to November.

The ONS also said the number of people claiming Jobseeker's Allowance fell by 24,000 to 1.25 million in December.

The Bank of England has said it will consider increasing interest rates from the current record low of 0.5% when the unemployment rate falls to 7%.

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