UK Unemployment Rate (Jun) 4.9% vs. Exp. 4.8% (Prev. 4.9%)

ONS: The labour market picture is little changed overall, with some softening still evident. Employment, unemployment and inactivity rates have all remained steady, while the number of employees on payroll fell slightly in the latest quarter. Vacancies remain broadly flat, though a small fall in the latest period puts them at the lowest level in more than five years. The latest decrease was driven mainly by smaller businesses, which cite labour and operating costs as reasons for not hiring new staff or replacing leavers. Regular wage growth has remained broadly stable in recent months. However, private sector pay growth has continued to ease, while public sector pay growth remains elevated due to the timing of the latest NHS pay awards.