U.K. Jobs Market Shows Resilience for Now Against Brexit Fallout
- Jobless claims unexpectedly decline by 8,600 in July
- Unemployment rate holds at 4.9%, but job vacancies falling
U.K. Jobs Market Appears Unrattled Post Brexit Shock
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Britain’s labor market isn’t cracking under the weight of Brexit yet.
Companies added 172,000 jobs in the second quarter and the unemployment rate held at 4.9 percent, showing resilience in the buildup to the June 23 referendum when the U.K. decided to quit the European Union. While the data available for July -- after the vote -- are more volatile, they show an unexpected drop in jobless claims.