U.K. Labor Market Report : Firm, not Weak

U.K. unemployment rate dropped to 5.3% in September slightly from previous month's 5.4%.
Average weekly earnings growth remained unchanged from August at 3.0% 3m/y as bonuses picked up in line with the consensus.

While Barclays Capital argues this labor market indices show signs of weakness with disappointed wage growth considering bonuses as a temporary factor, in below charts, overall conditions looks very firm for U.K. economy.