none

BRITISH UNEMPLOYMENT CLAIMS DROP DESPITE BREXIT FEARS

18-08-2016
by 
in 

Despite fears of a post-Brexit plunge in the British economy, unemployment figures have begun to fall for the first time since February, despite an upswell in EU worker immigration.

This data swings the balance against fears of an immediate recession, and of fears about a massive drop in the economic confidence of UK residents.

Predictions about the post-Brexit economy were pessemistic all around, even from some sections of the Leave campaign, who predicted an initial drop in the economic power of the UK, which would later be followed by steady growth.

In total, unemployment has dropped to its lowest rate since 2005, and employment has reached its highest point since 1971. Both of these developments signal strong confidence in the future of an independent UK.The Confederation of British industry has remained cautious.

"...businesses now need the Government to make ambitious decisions in the Autumn Statement that will secure the UK’s economic future as changes to trade, regulation and access to skills loom on the horizon,” said Anna Leach, CBI.

Despite future concerns that the UK must contend with, including rising inflation and the negotiation of numerous trade deals, UK residents appear to have confidence in their government and economy.

While further data points are needed to track the full extent of changes in confidence, this initial data shows an optimistic outlook.

Related news & editorials

  1. 16.08.2018
    16.08.2018
    by      In
    Following extensive growth of the business, Beacon Solar (a division of Beacon Lighting Group) has changed its business (trading) name to Beacon Energy Solutions.
    Beacon Solar has been in the energy efficiency/solar market for more than 10 years, with the business initially offering residential... Read More
  2. 15.08.2018
    15.08.2018
    by      In
    BHP’s new $4.8 billion South Flank iron ore mine in the Pilbara is expected to create about 2500 jobs during construction and 600 ongoing roles. But local fabricators are quire rightly up in arms about the company’s decision to award the contract for 20,000 tonnes of structural steel work to... Read More
  3. 14.08.2018
    14.08.2018
    by      In
    The former Trade Commissioner of Denmark to Australia and New Zealand, Michael T Hansen has been named General Manager of Nilfisk in Australia.
    Originally from Denmark, Hansen has more than 25 years of experience in business development and sales.
    Over the last 9 years as Trade Commissioner, Hansen... Read More
  4. 14.08.2018
    14.08.2018
    by      In
    World-renowned physicist Dr Cathy Foley has been named CSIRO Chief Scientist with a brief to help champion science, its impact and contribution to the world. Dr Foley is best known for her work developing superconducting devices and systems that have assisted in unearthing over $6 billion in... Read More