Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Thursday, 18 August 2016

Triple whammy boost

Brexit brushed...for now

A triple whammy of good news for Britain's pre-referendum economy.

Total UK employment increased by another +172,000 over the three months to June 2016, to an all-time record high of 31.75 million, according to the Office for National Statistics

This was an increase in employment of +606,000 from the prior year. 

The employment rate for 16-64 year old persons rose to its highest level since comparable record began in 1971.

The April-June unemployment rate of 4.9 per cent was the lowest since 2005, and matched the post-recession low water mark. 

Meanwhile there was also a surprise fall in the number of benefits claimants.

The number of unemployed fell to 1.64 million, some 207,000 fewer than a year earlier.

And average weekly earnings including bonuses increased by a stronger than expected +2.4 per cent from one year ago, well ahead of the inflation rate of just +0.5 per cent over the period. 

All great news, but as Britain voted for a "Brexit" this might be as good as it gets.

Time will tell.