Brexit has been dominating headlines, dinner conversations, and parliamentary debates for over 2 years now. We’ve seen people say that it’s the best thing that has ever happened to our country and we’ve seen people apply for Irish citizenship. In business terms, Brexit voters say that they made their decision to shake up our international trade and improve the talent we let into the country, while Remainers say it will deny the economy of talent. But what has Brexit actually done to the job market thus far?
What were people worried about?
Pro-remain business-owners saw Brexit as a threat to their recruiting process. Instead of being able to hire from anywhere in Europe, all of a sudden, they found they might be limited to just the UK after we leave the EU because of visa restrictions. But nothing much has happened so far. Employment rates have been relatively stable since both the vote and the triggering of Article 50. Employment rates for UK citizens and EU migrants in the country haven’t seen any radical shifts in either direction. In fact, many sectors have seen employment levels rise and as for Market Research & Insights, there are still more vacancies than ever, with a talent pool that struggles to keep up with the demand.
If you are a Market Researcher, Analyst or Econometrician, your skills are in demand and Brexit does not spell the end of a bright career for you. Whether Project Fear was real or not, people in our sectors have kept calm and carried on, and on, and on! In fact, there is so much demand out there that even if the vacancy numbers dropped by 25%, there would still be far more jobs than applicants.
It seems to be a similar story across the wider economy too - business owners are behaving and hiring like there’s no tomorrow (be that the case or otherwise!). The mood amongst applicants is also upbeat - life is too short to stay in a job you don’t like and it is not the case anymore that staying put is the ‘safe’ option.
That said, the prospect of a no-deal outcome looks more and more likely. Given the imprecise nature of predictions from both Remainers and Leavers since the referendum, it’s still too early to tell how this is going to play out. At the moment, though, everything looks promising – for now.
Great service and opportunities, Brexit or not
If you are thinking about a move and would like to hear about current opportunities in Market Research, Insight & Analytics, contact the team on 020 7242 6321 (UK) or 02 9258 1121 (Australia)