Will the UK lose out on good talent?
EU workers’ appetite for the UK jobs market is cooling dramatically, according to new data from global job site Indeed.
Since the start of 2017 the number of people in other EU countries searching online for UK jobs has slumped by 18 per cent. The drop is the sharpest recorded since the UK voted for Brexit last June, and takes the number of inbound job searches to 11 per cent below its post-referendum trough.
Meanwhile traffic in the opposite direction is increasing, with the number of UK residents looking for work in other EU countries ticking up since the start of January.
Mariano Mamertino, EMEA economist at Indeed, comments: “As Article 50 looms, we are seeing a sharper and longer decline in interest in working in the UK than in previous ‘shock drops’ following last year’s referendum. As Brexit moves from rhetoric to reality, the strain on Britain’s strong but tight labour market will worsen.
“For better or worse, a British labour market with fewer EU workers will be immediately confronted with a range of complex questions that will need to be resolved quickly to prevent major disruption.”