The UK unemployment rate rose to 5% in the three months to September, marking its highest level since December 2020-February 2021, according to new official figures. This increase, higher than the projected 4.9%, reflects a weakening jobs market and could influence a potential rate cut by the Bank of England.

• The Office for National Statistics (ONS) reported that average wage growth was 4.6% in the third quarter.
• Work and Pension Secretary, Pat McFadden, acknowledged challenges but stated the British economy is still generating jobs.
• The number of people on company payrolls fell by 180,000 (0.6%) in the year to October, exceeding forecasts, though job vacancies slightly increased to 723,000.

A state-run think tank has revised upward South Korea's 2025 growth outlook, citing improvements in both exports and consumption. The Korea Development Institute (KDI) now projects a 0.9 percent increase in real gross domestic product (GDP).

• The Korea Development Institute (KDI) upgraded South Korea’s 2025 GDP growth forecast to 0.9 percent, up from a previous estimate of 0.8 percent.
• The upward revision reflects a recovery in both exports and consumption, contributing to a 1.2 percent advance in real GDP during the third quarter.
• Exports of goods are projected to increase by 2.9 percent this year, while private consumption and facility investment are expected to rise by 1.3 percent and 2.5 percent respectively.