The boundary layer flow of a viscoelastic fluid of the second-grade type over a rigid continuous plate moving through an otherwise quiescent fluid with constant velocity U is studied. Assuming the flow to be laminar and two-dimensional, local similarity solution is found with fluid's elasticity and plate's withdrawal speed as the main variables. Results are presented for velocity profiles, boundary layer thickness, wall skin friction coefficient and fluid entrainment in terms of the local Deborah number. A marked formation of boundary layer is predicted, even at low Reynolds numbers, provided the Deborah number is sufficiently large. The boundary layer thickness and the wall skin friction coefficient are found to scale with fluid's elasticity—both decreasing the higher the fluid's elasticity. The amount of fluid entrained is also predicted to decrease whenever a fluid exhibits elastic behavior.