Finance, construction and utility businesses are ‘less optimistic’ about creating new jobs.

The finance sector is especially cautious. They reply on the EU ‘banking passport’ to do business. At the moment no one knows if they will continue to be able to use it after Brexit. If it doesn't, they may need to re-locate their businesses to another EU financial centre. In such circumstances they're unlikely to take on new staff, especially if that staff only holds a British passport and hence may be unable to work if they do have to re-locate.

Manpower UK reports there has been an 800% rise in applications for finance jobs in Dublin since the Brexit vote. That's a huge increase, but it's not clear from the source if this applications for the same number of jobs, or represets an increase in the number of jobs being advertised.

Another factor affecting this is the trend of large companies to to use European talent to fill any skill gaps in their line up within the UK. This is not exclusive to the UK, there is equally a talent flow the other way from the UK to the EU. All of this is now jeperdised following the Brexit vote.

Another particular problem that is affecting the larger multi-national businesses is -

Who can still work in your company following Brexit?

It may seem odd but companies actually may not know. There's no requirement for companies to record the nationality of their employees. They just have to be able to show that they carried out due diligence to ensure that their employees were entitled to work in the UK. However now knowing their nationality is very important. The unexpected vote for Brexit, and the government's reluctance to clarify the position of EU nationals already working here means they may lose a chuck of their workers in 2 years time.


Source: BBC News - Bosses more cautious on jobs after Brexit, survey finds

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