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The referendum and the UK labour market

Posted on 28/09/2016 by Johan Rajendra

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Post referendum and since employers have recovered from the initial shock, the REC’s Report On Jobs for August saw ongoing growth in vacancies which was supported by 23% of employers saying they will hire more staff in the next three months.

In the long run, as the complexity of the issue in the negotiations with the EU becomes more apparent, the ramifications of what a Post- EU Immigration policy should look like will affect recruiters in all industry sectors given the country has over two million EU nationals working in the UK. The UK is close to full employment, with 750,000 vacancies arising each month.

In the Finance sector, firms want the ability to move their workers across Europe, so any policy that comes into effect needs to not deter the hiring and movement of labour.

There have been concerns regarding immigration, which was a contributing factor in support of the Leave campaign, but it is imperative that UK organisations remain able to find the talent they need otherwise the ability of the UK to generate wealth and prosperity could be affected. 

Source: Kevin Green, REC Chief Executive in the Recruiter magazine