UK unemployment falls to 4.7% ahead of Budget, AJ Bell says

• UK unemployment fell to 4.7% in the three months to August, strengthening the case for a Bank of England rate hike.
• Markets price a 95% chance of a November hike; odds of rates reaching 4.25% by end-2026 exceed 50%.
• Total pay growth slowed to 3.7%, its lowest level in six years, signaling a subdued labor market.
• Payrolled employment edged up over the past month but declined over the quarter.
• Vacancies fell at their fastest pace since the start of the year, reaching levels last seen during COVID.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. AJ Bell plc published the original content used to generate this news brief on October 20, 2026, and is solely responsible for the information contained therein.