Brexit

Friday, May 12, 2017

In the weeks following the referendum last June, 70% of employers said they thought Brexit would have a negative impact on UK jobs. In a new survey conducted at the start of April, that number has dropped significantly to 48%, according to Reed.co.uk.

The jobs market continued to grow in Q1 with jobs up 17% year on year, with business confidence on the up.

 A further 31% of employers said they think the outcome of the UK’s departure from the EU will be positive, with more jobs on offer and lower unemployment, and 21% felt that Brexit would have no impact at all.

Despite these positive signs, the opinion of UK employers is split about the long term impact of Britain’s departure from the EU.

Here are the top three benefits that UK employers, who anticipate a positive outcome, think leaving the EU could have:

1.An increased number of jobs for UK workers

2.Growth in certain sectors (e.g exports and tourism) due to a weaker pound

3.Improved trade arrangements with foreign markets outside the EU

According to the research, these are the top three concerns employers have about Britain leaving the EU:

1.Business moving jobs outside of the UK

2.The devaluation of the pound

3.The possibility of an economic downturn

However, the research shows that, for many businesses, these concerns have yet to manifest themselves. Only 18% of employers surveyed reported changes to their recruitment since the referendum last June. This suggests that the majority of businesses have continued hiring as usual and although life stood still last June, despite all fears at the time - life did go on and recruitment does continue!