UK Average Weekly Earnings Growth Slows to 3.9% in Three Months to July

The cooling in headline pay growth matters less for its direction than for what it signals about underlying wage pressure, since the reading spans a period that predates more recent shifts in the labour market. For rate-sensitive sectors, including tokenised real-world assets that trade on rate expectations, the question is whether this deceleration is the start of a durable trend or simply noise in a single window. Whether the next reading confirms or reverses this move is the open question.