U.K. Employment Declines for First Time in More Than a Year
According to the United Kingdom’s Office for National Statistics, the nation’s labor market has been flattening post-Brexit. Full-time employment has dropped since August, while jobless claims have risen. According to Alan Clarke, an economist at Scotiabank, this is the first sign of trouble since the U.K. voted to leave the European Union. As a result, it is unlikely that the Bank of England will raise the interest rate from its record-low of .25%.
See "U.K. Employment Declines for First Time in More Than a Year", Jill Ward, Bloomberg, December 14, 2016