The job market has stabilized, but the wage growth rate has hit a nearly five-year low! The Bank of England welcomes the "stabilizer". The probability of no action next week increases.

According to the Zhixing Financial APP, before the Bank of England announces its latest interest rate decision next week, data released by the UK government shows further signs of stabilization in the country's labor market. The UK Office for National Statistics stated on Tuesday that in June, the number of employees receiving paychecks decreased by 4,000, compared to an increase of 3,000 in May, which was better than the previous expectation of a decrease of 8,000 by economists. As of June, the number of job vacancies in the UK was 712,000, which was basically unchanged compared to the previous reporting period. The unemployment rate for the three months up to May remained at 4.9%, although the UK Office for National Statistics warned that the quality of the estimated data for this unemployment rate has declined due to a temporary issue. The youth unemployment rate for those aged 16 to 24 rose slightly to 16.4%, the highest level since 2014.