By Daniel Hunter

Date released this morning (Wednesday) by the Office for National Statistics (ONS) have shown that unemployment in the UK fell by 14,000 between October and December 2012.

The rate of unemployment now stands at 2.5 million. The number of people claiming Jobseeker's Allowance in January also fell, dropping 12,500 to 1.54 million.

The unemployment rate fell to 7.8% in the three months to December, down from 7.9% in the previous quarter.

Overall, the ONS said there were 29.73 million people in the UK in employment, of which 73% were working full-time and 27% were working part-time.

The figures also show how much the UK economy has been transformed since the financial crisis and its subsequent recession in 2008.

The ONS said that between October to December 2012, full-time employment was 378,000 lower than in the April-to-June quarter in 2008, the first quarter of the recession. But part-time employment was 572,000 higher compared with the same period.

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