No sign of Brexit yet
Skerdian Meta • 1 min read
It´s always interesting to see the UK economic data, especially the July data, which is the month after the Brexit vote. We know that there was great panic and uncertainty during that month and the business, which is the most sensitive part of the economy was calling it quits.
Now, about three months after the vote, the situation has changed and everyone is feeling a bit more relaxed, but at that time the business was suffering, mostly due to its own predictions which turned the sentiment very negative.
Now, the employment figures for July are released and they´re as they used to be before the Brexit referendum. There´s no sign of weakness or panic on the employment front. The unemployment claims are insignificant and the wages are holding up well, mind you, those are the earnings numbers for the quarter, so July might not have that great of an impact.
The GBP survived another round of economic data
Anyway, the panic and the weakness we saw in the businesses in July doesn´t translate into weaker job numbers so quickly. We have to wait for the August data, which will be released in a month time, in order to see if that panic spilled over to the labour market or if it was an isolated event. meanwhile, the GBP had a little wobble but is fine now.