According to Jin10, Investec analyst Ellie Henderson said in a report that the Bank of England has so far viewed labor-market slack as helping reduce the risk of second-round effects from the energy shock, but Tuesday’s data showing improved labor-market conditions may unsettle policymakers. The latest estimates showed early signs of a recovery in employee numbers: the 13,000 increase in September was modest but the largest monthly rise since August 2025. Although the data is not conclusive evidence that economic conditions are stabilizing, Bank of England policymakers will pay attention to it. Henderson said, “If committee members are, as we suspect, increasingly concerned about the medium-term inflation outlook, today’s report will only add to their unease.”