British unemployment falls again despite Brexit vote

Markets Associated Press

Britain's vote in June to leave the European Union does not appear to have had too much of an impact on the labor market — at least in the first month after the decision.

Continue Reading Below

Official figures Wednesday show that in the three-month period through July, the number of unemployed was 1.63 million, 39,000 lower than the previous period. The unemployment rate held steady at 4.9 percent.

Overall, the Office for National Statistics said there were 174,000 more people employed, with the employment rate at a record 74.5 percent.

Economists said little can yet be read into the seeming resilience, given the lags involved between events and changes in the labor market.

Ben Brettell, senior economist at Hargreaves Lansdown, said the picture will "gradually become clear over the next few months."