UK labor market shows signs of recovery

Labor market data in Britain reveals signs of a gradual recovery, with wage growth increasing to 3.7% over the three months ending in August, suggesting a potential rise in interest rates next month. The labor market has also remained resilient, with the number of registered workers rising by about 13,000 in September and the unemployment rate dropping to 4.7%, the lowest since mid-2025. Despite job vacancies continuing to decline below 700,000, the Bank of England is expected to raise interest rates to 4% in November, amid an expected acceleration in inflation to 3.4% in September, which supports the likelihood of tightening monetary policy to tackle elevated inflation.

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