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UK Pay Growth Rises as Labour Market Shows Resilience

British wage growth rose slightly and unemployment dropped to 4.7 percent in the three months to August. The data suggests the jobs market is stabilizing, potentially supporting a Bank of England interest rate hike.

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A construction worker carries out work from a mast climbing work platform at the Hatters Yard development in Stockport, Britain, July 14, 2026. REUTERS/Temilade Adelaja

Average weekly earnings in the United Kingdom rose 3.7% in the three months to August, outpacing forecasts and bolstering the case for an interest rate hike. Tuesday's official data pointed to nascent recovery signs in the labor market.
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