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The latest figures show unemployment has fallen to just over two million - but suggest wages have slumped, sending mixed messages about the economic recovery.
In April, wages grew up 0.6 per cent - significantly below inflation at 1.9 per cent.
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Figures showing a fall in average earnings is "extremely worrying", Labour said as it criticised the government as "out of touch".
The number of people out of work fell by 132,000 between April and June, but salaries decreased by 0.2% in the year to June.
Work and Pensions Secretary Iain Duncan Smith said the government's long-term economic plan is working after new figures revealed a fall in unemployment.
"The long-term economic plan is working. It's not over yet but we've seen the biggest fall in overall unemployment for 25 years and the biggest fall in youth unemployment for some 30 years," the minister told ITV News.
He said it was a "personal story of success" for those who had emerged from the "worst recession in living memory" with jobs.
Mr Duncan Smith said the figures showed welfare reforms were helping to "break the cycle" of welfare dependency and unemployment.
David Cameron hailed the latest employment figures as "very good news" as new figures showed unemployment had fallen by 132,000 between April and June.
The Bank of England today upgraded its growth forecast for the UK this year from 3.4% to 3.5% and for next year from 2.9% to 3%.
But the Bank halved its forecast for wage growth in 2014 from 2.5% to a below-inflation 1.25%.
As the Bank of England Governor was preparing to give his update on the U.K. economy, new stats dropped onto his mahogany table.
Unemployment is down - but so are wages.
The drop in average salaries over the year to June will be a stark warning to the Governor that it's too soon to raise interest rates.
If it were to happen now too many households would drop into unsustainable debt.
Figures showing a fall in unemployment shows Britain's economic recovery is "continuing to gain momentum", the Chief Secretary to the Treasury Danny Alexander said.
"With record numbers in work and the claimant count falling, these figures show that our economic recovery is continuing to gain momentum," Mr Alexander said.
"It's further proof that our Liberal Democrat tax cuts for working people, support for apprenticeships and our determination to tackle the deficit fairly are working - and so is the country.
"There is still a long way to go, but this is solid progress and the significant fall in youth employment is particularly encouraging and welcome."
Unemployment fell by 132,000 between April and June to 2.08 million, official figures showed today.
The number of people claiming Jobseeker's Allowance also fell by 33,600 to 1.01 million last month.
The fall in youth unemployment was the biggest since records began with the number of 16-24-year-olds out of work decreasing by 102,000 between April and June to 767,000.
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The Governor of the Bank of England has admitted he is still unsure when interest rates will rise.