The UK unemployment rate fell by 60,000 between October and December to 1.69 million, with the highest number of people in work since records began according to the Office of National Statistics.

However, growth earnings remained slow, as average weekly earnings for employees in Great Britain increased by 1.9% including bonuses and by 2.0% excluding bonuses compared with a year earlier. This further adds to speculation that the Bank of England is unlikely to raise rates for the next six months.

ONS statistician Nick Palmer said: "While the employment rate continues to hit new highs and there are more job vacancies than ever previously recorded, earnings growth remains subdued and markedly below the recent peak of mid-2015.”

Meanwhile, the total number of workers from the EU remained above 2 million, figures which are likely to put pressure on David Cameron as he continues talks to restrict the access to in-work benefits for workers from outside the UK.