Group 1 - The UK job market is experiencing a cooling trend, with the unemployment rate reaching 4.7% in the second quarter, the highest level in nearly four years [1] - The number of registered jobs in the UK has decreased both year-on-year and month-on-month, indicating a decline in employment opportunities [1] - There were 718,000 job vacancies in the UK from May to July 2025, a decrease of 16.8% year-on-year and down 9.7% compared to pre-pandemic levels [1] Group 2 - 16 out of 18 monitored industries in the UK reported a reduction in job vacancies, with significant declines noted in the hospitality and retail sectors [1] - Continuous wage growth is posing challenges for businesses and the economy, leading many employers to halt hiring or implement layoffs [1] - A recent survey indicated that 73% of respondents identified high labor costs as the biggest pressure on business expenditures [1]

Core Viewpoint - Australia's job market unexpectedly cooled in May, leading to increased expectations for interest rate cuts by the Reserve Bank of Australia (RBA) [1] Economic Indicators - In May, Australia experienced a surprising reduction in job positions, although the unemployment rate remained stable due to a decrease in job seekers, indicating a slight loosening in the labor market [1] - The current key interest rate stands at 3.85%, with an 80% probability that the RBA will lower it to 3.6% on July 8, followed by two additional rate cuts [1] Market Reactions - The Australian dollar and the yields on three-year government bonds, which are sensitive to policy changes, showed little variation following the employment data release [1] Broader Economic Context - Economic growth momentum appears weak since the RBA adopted a dovish stance in May, marking the second rate cut in recent meetings [1] - Global uncertainties have intensified due to geopolitical tensions, including Israel's attacks on Iranian nuclear facilities, which have contributed to rising oil prices [1]