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ILO says UK unemployment rate remains at 3.8%

As of June-August, the U.K.'s unemployment rate as calculated by the International Labour Organization (ILO) remained at 3.8%, in line with market expectations. During the same period, the total employment continued to increase by 160,000, which was lower than the market expectation of 268,000, and the previous value increased by 296,000. As for wages, the average weekly wage growth slowed to 5.1% year-on-year, a sharp drop of 1.1 percentage points from the previous value, and the market's original expectation of 4.5%. Wages, excluding bonuses, rose by 4.7% year-on-year, up 0.4 percentage points from the previous value, and the market expected 4.5%. The UK employment data remains strong, and interest rate futures show that the market expects the Bank of England to raise interest rates by 50 basis points on the 15th of next month. The probability is as high as 85%.
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