Brexit already affecting migration and labour market

Brexit is a little more than a year away but there is mounting evidence it's having a major impact on the number of European citizens looking to live and work in Britain.

Figures released this week show net migration — the difference between those coming into Britain and those leaving — from other European Union countries falling below 100,000 for the first time since March 2013. Separate figures show the number of EU nationals working in Britain increasing by its lowest amount since September 2013.

Concern about immigration was a key reason behind Britain's vote in June 2016 to leave the EU. Brexit is due in March 2019.

Holger Schmieding, chief economist at Berenberg Bank, said Friday that Brexit, at least on the migration front, is "working" already.

(AP)