Britain Has Lost Jobs Since Brexit

Britain Has Lost Jobs Since Brexit
Britain Has Lost Jobs Since Brexit
Britain Has Lost Jobs Since Brexit CNNMoney

To all the naysayers that said the UK would be fine after Brexit, here's some bad news. Britain has lost 65,000 retail jobs since it voted to leave the European Union, a decline fueled by increased online competition and a Brexit-induced wage squeeze.

In Britain has lost 65,000 retail jobs since Brexit vote   she reports that:

Employment data published Wednesday show the number of jobs in the sector dipped below 5 million in September. Weak consumer spending suggests more pain to come over the holiday season.

 "It reflects the pressure on the [retail] sector," said Howard Archer, an economic adviser to EY. "Consumer spending has been softer for most of this year and retail sales have been lower."

Data compiled by IHS for Visa (V) show that spending in U.K. brick-and-mortar stores dropped 3.5% over the previous year in November. It was the seventh consecutive monthly decline, and one of the biggest drops since 2012.

Did you think Brexit would hurt the UK economy?



Read the source article at CNNMoney


The information contained above may have been prepared by independent third parties contracted by Nadex. In addition to the disclaimer below, the material on this page is for informational and educational purposes only and should not be considered an offer or solicitation to buy or sell any financial instrument on Nadex or elsewhere. Please note, exchange fees may not be included in all examples provided. View the current Nadex fee schedule. Nadex accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representations or warranties are given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk and any trading decisions that you make are solely your responsibility Trading on Nadex involves financial risk and may not be appropriate for all investors. Past performance is not necessarily indicative of future results. Nadex instruments include forex, stock indexes, commodity futures, and economic events.

Nadex binary options and spreads can be volatile and investors risk losing their investment on any given transaction. However, the limited-risk nature of Nadex contracts ensures investors cannot lose more than the cost to enter the transaction. Nadex is subject to U.S. regulatory oversight by the CFTC.