Unemployment: Fall in jobless total is second biggest on record, renewing speculation about rise in interest rates The number of jobless dropped by 167,000 in the three months to November to 2.32m, the second biggest fall on record. The unemployment rate fell to 7.1 per cent, close to the 7 per cent at which the Bank of England will consider an increase in interest rates. However, the Bank is expected to "move the goalposts" next month by changing its strategy so that it takes account of other factors. Today's figures showed that average wage growth has remained at 0.9 per cent - well below the 2 per cent level of inflation - and the Bank is under pressure to consider using pay growth as an additional threshold for its interest rates policy. Bank of England seeks to ease rate hike fears as pound soars Ministers welcomed the faster than expected fall in unemployment. The quarterly fall of 167,000 is the biggest since the autumn of 1997 and the second largest since records began in 1971. he number of people in work reached a record high of just over 30m, giving an employment rate of 72.1 per cent, an increase of 0.5 per cent over the three months to November. The number claiming Jobseeker's Allowance in December fell by 24,000 to 1.25m. David Cameron and Ed Miliband clashed over the statistics in the Commons, after the Labour leader accused the Prime Minister of being "complacent" about wages figures which, he claimed, showed that working people are more than £1,600 a year worse off on average under the Coalition. At Prime Minister's Questions, Mr Miliband said it was "scandalous" that a majority of 13m people living in poverty are in work rather than jobless. The Bank of England says a figure of 7 per cent will not automatically trigger an interest rate rise Mr Cameron blamed the slow growth in pay on "the mess" left behind by Labour which led to the biggest recession for 100 years. He accused Mr Miliband of being "like an arsonist" who seeks out fires he started and then complains the fire brigade are not acting fast enough. Mr Miliband replied that Mr Cameron "cannot be the solution to the cost of living crisis because he just does not understand the problem." Esther McVey, the Employment Minister, said: "With the highest quarterly fall in unemployment since 1997, it's clear that the Government's long-term economic plan to get people off benefits and into work so they can secure their future is proving successful." Rachel Reeves, the shadow Work and Pensions Secretary, welcomed the drop but said: " The Government should use this opportunity to tackle the unacceptably high levels of long-term unemployment and youth unemployment. More than 900,000 young people are unemployed and over 250,000 young people are long-term unemployed. Dr John Philpott, director of The Jobs Economist, said: "It's now inevitable that unemployment will soon fall below the Bank of England's forward guidance rate of 7 per cent. However, the weakness of pay growth suggests there is still a considerable amount of slack in the labour market which for the time being remains an inflation free zone. Better news on jobs is no reason for an early rise in UK interest rates.