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.

The US Senate has passed a crucial funding bill by a vote of 60-40, potentially ending the longest government shutdown in history. The bill now heads to the House of Representatives before President Donald Trump can sign it into effect, which he has signaled he is willing to do.

• The funding bill passed with 8 Democrats, 1 Independent, and nearly all Republicans voting in favor, while only one Republican voted against it.
• The deal funds the government until January 30 and guarantees pay for all federal workers affected by the shutdown, which has impacted around 1.4 million federal employees.
• The bill also includes funding for the Department of Agriculture, military construction, and legislative agencies, and provides funding for the Supplemental Nutrition Assistance Program (SNAP) until next September.

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.