UK job market improves. What ‘Brexit’ effect?
After Britain voted in June to leave the European Union, economists feared a “Brexit effect.” The jobless rate would increase, as corporations moved to mainland Europe or Ireland.
Nearly three months after the referendum, the roaring unemployment some economists predicted has been just a purr. In fact, the unemployment rate has improved, and a historic three quarters of Britons who can work have jobs, according to a survey the British Office for National Statistics (ONS) released Wednesday.
The country’s unemployment rate for May to July fell 0.6 percent from a year ago, from 5.5 percent to 4.9 percent, according to ONS. The employment rate was 74.5 percent for those three months, with 559,000 more Britons employed than a year ago. – READ MORE