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No drama, UK unemployment rate remains steady after Brexit vote

GBPUSD News by Allie Longford on 04:45 Octuber 19, 2016 EST

Britain's unemployment rate remains at 4.9% in the three months to August according to the latest ONS figures released on Wednesday.

Fears that the referendum vote to leave the EU would impact the labor market have not materialised as the number of people finding new jobs has actually increased by 106,000 in the quarter although that is lower than in previous quarters when around 170,000 new jobs were created but better than expected.

The number of people signing on for unemployment benefits rose in September, but just by 700 people, much better than the three thousand plus the city forecast.

Wages ex-bonus also outperformed in September.

The pound rises above 1.23 on the news but the FTSE 100 falters in early Wednesday trading.


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