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UK Employment At Record, Pay Growth At Decade-high

The UK employment hit a record high in December and the workers' pay grew at the fastest pace in a decade amid steady unemployment, figures from the Office for National Statistics showed on Tuesday.

The employment level grew by 141,000 sequentially to a record high 32.54 million in the three months to November.

The rate of employment rose to 75.8 percent, which was the highest since comparable records began in 1971.

The number of unemployed was 1.37 million in the three months to November, broadly unchanged from the previous three months ended August.

The ILO jobless rate was 4 percent in the three months to November, which was the lowest since December 1974 to February 1975 period, and unchanged from the three months ended August.

Economists had expected the rate to remain unchanged at 4.1 percent recorded for the August to October period.

The unadjusted average weekly earnings excluding bonuses grew 3.3 percent year-on-year, in line with economists' expectations, and unchanged from October.

Including bonuses, earnings rose 3.4 percent from a year ago, which was the biggest increase since July 2008. Economists had expected the pay growth to remain steady at October's 3.3 percent.

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