Bad News For Recent Graduates As 700,000 Fewer Jobs Are Advertised Following Brexit
Britain’s decision to leave the EU may have terrible implications for young people looking for jobs.
Weeks after the referendum, the consequences of the Leave vote are becoming clearer. A recent Financial Times analysis of economic indicators shows the impact of Brexit in the days following Thursday 23rd June. Perhaps one of the most concerning findings in the report is that there were significantly fewer job opportunities in the UK post-Brexit.
The graph below shows the drop in jobs being advertised compared to the week before Brexit.
At this time of year in 2015 job adverts fluctuated around the 1.5 million mark, and were looking to do the same in 2016. But in the week after Brexit they fell significantly.
— Jo Maugham QC (@JolyonMaugham) July 6, 2016
In the week before the EU referendum, nearly 1.5 million jobs were advertised – which only differs slightly from the number of jobs advertised in the same week in 2015. In the week following the referendum, the number of jobs advertised fell to 820,000 – a fall of nearly half compared with the same week in 2015.
This is certainly worrying for anyone on the job hunt, especially for those of us who are just leaving university and hoping to start careers. But this is just a brief snapshot of the market immediately after the referendum – who knows how things will develop as Britain’s post-Brexit plan becomes more clear.
We can only hope things will improve.