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UK job growth slows but no Brexit shock yet

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By Euronews
UK job growth slows but no Brexit shock yet

Job creation in Britain slowed in the three months up to August but it seems the decision to leave the European Union has not yet undermined the labour market.

The Office of National Statistics (ONS) said the number of people in work rose by 106,000 between June and August.

The three previous readings had shown gains of more than 170,000.

The jobless rate was unchanged at 4.9 percent, still the lowest level in almost 11 years.

“These figures show that employment continued to grow over the summer and vacancies remain at high levels, suggesting continuing confidence in the economy,” ONS statistician Nick Palmer said.

Unemployment in the UK is widely expected to rise though as companies plan to delay hiring while they wait for greater clarity on Britain’s future ties to the EU.

Wage growth in the period from June to August held steady, but in real terms – measuring regular pay against inflation – earnings rose at their slowest pace since February 2015.