After increasing by 2 percent during the previous quarter, job-seeking in the U.S. declined by 1.5 percent in the third quarter of 2016, a reverse that analysts are attributing to political events that have led workers to approach the job market with caution.

A report by CEB based on surveys of 20,0000 employees around the world attributes a decline in job-seeking in Europe — and the United Kingdom in particular — to the uncertainty wrought by Brexit. The narrow vote by Brits in favor of their country leaving the European Union shocked the political establishment and the business community. Although the vote has not yet resulted in economic calamity, a number of major businesses in the U.K. have begun to move operations to other European cities.

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