UK ex bonus wage growth picked up to 4.8% in September, slightly above the 4.7% estimate, which supports a gradual rate cut trajectory by the Bank of England.
With unemployment increasing to 4.3% from 4.1% and vacancies continuing to decline, there seems to be a loosening labour market reflected in this 28th consecutive report.
Although wage growth figures weren't as robust as expected, they provide backing for potential quarterly rate cuts as the overall economic indicators lean towards easing.
Despite the disappointing employment numbers, the sterling remains stable, suggesting that investors perceive the job data with caution and possibly expect further rate adjustments ahead.
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