UK Labor Market Weathers: Number of Jobless Claimants Decline

Brexit referendum effects to the UK labor market, The number of people claiming out-of-work benefits in the U.K. fell in July, a sign that the labor market held up well in the immediate aftermath of the country’s vote to leave the European Union. Some positive gain after Brexit final referendum, actually this is a good sign for British economic growth

As reported from UK labor national statistics, The number of jobless claimants declined by 8,600 in July to 763,600, the Office for National Statistics said Wednesday. The number of vacancies in the job market fell slightly on the month, to 741,000, although there were still more available positions in July than there were a year earlier. The number of people out of work and not looking for a job—those classed as economically inactive—also fell. British people keeping the good pace of working day

The figures add to a mixed picture of the British economy after the vote to leave the EU in a referendum June 23. Meanwhile another data, Surveys of manufacturing, construction and services in July pointed to a sharp fall in economic activity and economic growth, but retailers reported a bump in sales despite a slump in consumer confidence. A falling British safe haven currency pound has aided exporters but data Tuesday showed sterling’s slide also fueled a rise in firms’ costs, which may stoke inflation.

The financial authorities in British, The Bank of England cut its interest rates to a new low this month as part of a package of measures to support the economy, to stimulate the credit line and boost to utilize the credit line, and the true effects is more spent money to the British. The central bank’s forecasts suggest the economy is poised to slow, as uncertainty over the U.K.’s future economic relationship with the EU, its biggest trading partner, weighs on spending and investment.