Brexit, the most widely-debated issue of the past year, continues to cause uncertainty for both businesses and the public in 2019. After the PM’s proposed Brexit deal was defeated last night, the nation remains in the dark about what Brexit will mean for the country, the economy, and the jobs market. As the deadline to leave the EU gets ever closer, at our leading London recruitment agency we’re keeping a close eye on how Brexit might affect job seekers.
How will Brexit impact the jobs market in London?
Some economists have reported that Brexit may lead to a lost generation of lower employment and lower economic growth. Others have stated that a worst-case no-deal Brexit could result in 87,000 fewer jobs in London by 2030. On the other hand, supporters of Brexit have argued that leaving the EU could have a positive impact on the jobs market—by forcing businesses to look closer to home and invest in UK-grown talent.
In reality, it’s too early to tell how London’s job prospects will be impacted when Britain leaves the EU—whether that’s in March 2019 or delayed until later in the year. However, as a top London recruitment agency, we’ve already noticed some emerging trends in the jobs market.
Increased demand for temporary staff
Since the intention to leave the EU was confirmed, the recruitment industry has seen a significant increase in demand for workers to fill temporary jobs in London and across the UK. This could be the result of employers not wanting to commit to hiring permanent staff until Brexit happens. This is great news for job seekers looking for temporary jobs.
The post-Brexit market is predicted to be very candidate-driven, with skills shortages across a range of sectors due to losing skilled EU workers and overseas investment. While this creates a challenge for businesses to fill key roles, it could prove beneficial to job seekers in London, as it may open up more opportunities for skilled workers or those looking to change careers.
No instant effect
Regardless of what deal is agreed, the effects of leaving the EU won’t be felt immediately—and will take time to have an impact. This means that in the short term, job seekers may not notice much of a change in the jobs market in London, and those seeking temp jobs might experience some positives. If you’re looking for temporary or permanent jobs in London, we have lots of opportunities, so feel free to get in touch with our recruitment experts.
Unclear long-term forecast
As for the long term, there is very little certainty about the impact of Brexit in the future. The recruitment sector and the workforce will clearly face challenges going forward, but it isn’t clear what exactly those challenges will be, or how much of an impact they will have. At London’s leading office support recruitment agency, we’ll keep you up to date on how Brexit might affect the jobs market, so stay tuned to the Love Success blog.
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