Potential Impact of Brexit on the US Economy and Implications for Workers Compensation

Posted Date: July 26, 2016
    
On June 23, 2016, United Kingdom (UK) voters participated in a referendum on Brexit: “Should the United Kingdom remain a member of the European Union or leave the European Union?” About 52% of Britons voted to leave the European Union (EU), the UK’s major trading partner. The EU accounted for 45% of the UK’s exports and more than three million export-linked jobs during 2014, according to a recent report by the House of Commons. The unexpected decision to exit the EU has sparked debate about the economic and political consequences of Brexit for the UK, the EU, the United States (US), and the rest of the world. This note focuses on potential economic impacts of Brexit on the US and its possible implications for workers compensation.