Brexit. May’s Way Is Not The Only Way
If there is anything that we have learned from the development of the British economy since the Brexit referendum is that doomsayers were wrong.
Since the Brexit vote, the UK has created 450 thousand jobs.
Unemployment stands at a 4% rate, the lowest since 1975. Labor Participation Rate is at 75%. This compares to an EU unemployment of 8.7% and 58% labor participation rate in the 28 member states.
Productivity is growing at the fastest rate in 6 years, while UK factory orders at 4-year high.
At the same time, wage growth has accelerated to two-year highs.
Inflation is above expectations, but that has nothing to do with Brexit and all to do with the Bank of England’s extremely loose monetary policy.