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  1. ITV Report

Number of unemployed at lowest rate since 1975

The number of people who are unemployed dropped to its lowest rate since 1975, latest official figures have shown.

The data shows that the number in work remains near record highs - but posted the biggest loss in nearly two years in the three months to October.

There are just over 32 million people in employment, but that dropped by 56,000 between August and October - the largest since May 2015, the Office for National Statistics (ONS) said.

Unemployment was down by 26,000 to 1.4 million, which is 182,000 lower than a year ago. The fall in employment was virtually all among full-time men.

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Job vacancies were up by 14,000 to a record 798,000.

However, the claimant count, which includes people on Jobseeker's Allowance and the unemployment element of Universal Credit, increased by 5,900 last month to 817,500.

And the number of people classed as economically inactive - including students, those on long-term sick leave, or those who have given up looking for work - increased by 115,000 to 8.8 million.

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Latest data also pointed to a continued squeeze on households, with average earnings trailing below inflation.

Households saw an wage increase of 2.5% in the year to October, easing up 0.2% up on the previous month, according to the ONS.

That is below the rate of inflation, which hit a five-year high of 3.1%, meaning that in real terms households have less spending power.