UK jobs market shines, but clouds on horizon2019|01:39
While the threat of a No Deal Brexit looms over the UK, Its labour market showed unexpected strength in the second quarter. That's despite figures last week showing the economy contracted over the same period. Total earnings growth including bonuses rose by an annual 3.7% in the three months to June - the highest rate since June 2008. Tuesday's figures also showed Britain created 115,000 jobs in the quarter, while the unemployment rate rose slightly to 3.9%, The jobs market has been a silver lining for the economy since the Brexit vote in June 2016, Though many economists believe this is due to employers hiring workers they can later lay off, rather than making longer-term commitments to investment. And on the day the figures were released, other signals were less positive ... Irish consumer sentiment slumped to a four-year low in July as British Prime Minister Boris Johnson pledged to leave the EU no matter what on October 31st rattled his nearest neighbour. Danish shipping company DFDS - which operates one of the largest networks of ferry routes in and around Europe - cut expectations this year due to lower UK trade. One prominent UK company sounded more positive about Brexit, though. Simon Wolfson - Chief Executive of clothing retailer Next and Brexit supporter - told the BBC he believes Britain can avoid chaos in the event of no-deal. He says the government's contingency planning meant the economy was better prepared for a disorderly Brexit on October 31st. A view that would be out of sync with recent warnings on no-deal from the business community.