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UK pay growth slows to 3.9% before crunch interest rates decision
Average weekly earnings rose 3.5% while vacancies fell to 702,000, reinforcing signs of a cooling labor market before the Bank of England decision.
- On Tuesday in LONDON, official data showed Britain's unemployment rate remained steady at 4.9% in the three months to July, days before a Bank of England interest rate announcement.
- Average weekly earnings, excluding bonuses, grew by 3.5% for the three months to July compared with the same period in 2025, The ONS reported, matching economist forecasts.
- Job vacancies fell to 702,000 from 706,000 in the three months to August, marking the lowest reading since April 2021; small businesses cited high employment costs as a constraint.
- Investors on Monday priced a roughly one-in-three chance of a quarter-point rate hike by The BoE on Thursday, reflecting market expectations ahead of the decision.
- The BoE is monitoring how energy prices driven by the Iran war affect inflation, while the Monetary Policy Committee faces expectations of rate hikes in November and December.
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15 Articles
The IndependentReposted by 
The Independent (US)
The Independent (US)UK job vacancies at lowest level in years amid tough business trading conditions
·London, United Kingdom
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UK unemployment rate lower than expected in July but pay growth cools
The UK jobless rate was steady in the three months to July, defying expectations of an increase, according to numbers from the Office for National Statistics on Tuesday. The UK unemployment rate... -September 15, 2026 at 02:18 am EDT MarketScreener
·Annecy, France
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Total News Sources15
Leaning Left2Leaning Right3Center6Last UpdatedBias Distribution55% Center
Bias Distribution
- 55% of the sources are Center
55% Center
L 18%
C 55%
R 27%
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