The UK job market appears to be stabilising following a period of increased unemployment that was largely attributed to recent tax hikes initiated by Chancellor Rachel Reeves. As Reeves prepares to unveil her budget on 26 November, new figures from the Office for National Statistics (ONS) show that the unemployment rate edged up to 4.8% in the three months to August, compared to 4.7% in July. Economists had anticipated the rate would remain unchanged during the period. Additional data from HM