The UK labor market showed signs of easing its recent downturn in July, with job losses continuing for the sixth consecutive month but at a slower pace than initially expected following increased business taxes introduced by Labour under Rachel Reeves. Employment fell, and vacancies declined, yet wage growth remained strong at around 5%, presenting a challenge for the Bank of England (BoE) as it balances inflation concerns and the potential for interest rate cuts. The British pound strengthened in response to the jobs data, reflecting market optimism about the resilience of the economy despite the cooling labor market. Meanwhile, South Africa's unemployment rate rose to a year-high 33.2% in the second quarter, up 0.3 percentage points from the previous quarter, adding pressure to its already struggling economy.