There are more jobs available for those seeking employment, new data has revealed.
According to research by the Office for National Statistics, the number of vacancies increased by 1,600 over the last quarter.
Furthermore, the unemployment level dropped, as the number of working-age adults in jobs increased.
Between November and January, the number of people without a job dipped by 32,000 or 5.2 per cent.
At the same time, the employment rate hit 74.8 per cent - a rise of 0.3 percentage points.
Audrey Childe-Freeman, an economist at CIBC World Markets, told the Guardian that the data could point towards further interest rate cuts.
"The softening in the average earnings growth is likely to come as welcome relief for the Bank of England at a time when inflation remains a concern," she said.
Interest rates were reduced in February this year and December 2007, with the current rate holding at 5.25 per cent following the Bank's meeting earlier this month.
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