U.K. Labor Market Was Strengthening Before Brexit Vote: Chartby
The U.K. labor market was strengthening before the nation’s decision to quit the European Union. The unemployment rate fell to 4.9 percent in the three months through May, the lowest since the third quarter of 2005, the Office for National Statistics said on Wednesday. The number of people in work rose 176,000, the most this year, to a record 31.7 million. Still, Samuel Tombs, an economist at Pantheon Macroeconomics in London, said he expects employment growth to ease sharply.