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UK labor market recovers ahead of rate hikes
Workforce market data in Britain indicates signs of a gradual recovery, with the wage growth rate rising by 3.7% over the three months ending in August, and the unemployment rate decreasing to 4.7%, the lowest since mid-2025. Additionally, the number of registered employees increased by approximately 13,000 in September. However, the number of job vacancies has fallen below 700,000, reflecting weakened demand for hiring, which is likely to prompt the Bank of England to raise interest rates to 4% in November to counter the expected rise in inflation, currently around 3.4%.
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