The UK unemployment claimant count unexpectedly declined last month, suggesting the UK labour market held up reasonably well in the wake of the Brexit vote.
The claimant count – which measures the numbers in receipt of Jobseekers’ Allowance and Universal Credit - fell by 8,600 to 764,000 according to the Office for National Statistics.
Unexpected post-Brexit vote resilience
This was the first fall in five months. Financial analysts in the City of London had expected the count to increase by around 9,500.
Other survey measures of business in the wake of the 23 June referendum result have suggested a softening of the labour market.
"This is encouraging but it will be some months before we get a fuller picture as to how far the Brexit vote has dampened the exceptionally strong jobs growth we have seen in the UK over the past three years" said John Hawksworth of PwC.
The news immediately lifted the pound to $1.3058, though it rapidly fell back.
The number of vancancies reported by the ONS was less positive.
It fell by 3,000 in the three months to July to 741,000.
A high number of vacancies indicates a stronger labour market.
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