Brexit and the UK labour market
IPPR analysis reveals slump in finance sector recruitment in aftermath of Brexit voteArticle
IPPR and Burning Glass Technologies have, working in partnership, produced new analysis of online job vacancies both before and after the UK’s referendum vote to leave the European Union. The analysis compares jobs advertised online in key sectors across England in May/June and July/August 2016 with the same periods in the previous three years (2013, 2014 and 2015). This data offers some of the first insights into labour market trends ahead of official lagged indicators.
The analysis finds that there was an uncharacteristic downturn in job postings in the finance sector between May/June and July/August in 2016 – particularly in the Greater London region. For example, there was a 13.6 per cent drop in postings for jobs in the finance sector in London, for roles including chief executives and senior officials, managers, and quality and regulatory professionals. Job postings for the finance sector as a percentage of those across the whole economy decreased between May/June and July/August 2016 across every region in England – the only year in the past four in which this trend can be observed. Our analysis finds that, across most sectors of the labour market, employer recruitment patterns in the two months before and after the Brexit vote (May/June and July/August) were in line with previous trends.
Related items
State of the North 2025 - The kids aren't alright: How to deliver for young people in the North
This year’s State of the North report highlights how regional inequality exacerbates the growing challenges facing many young northerners.The transport challenge for low-income households
Many people living on low incomes in the UK are limited in their ability to access the building blocks of a good life because of poor transport provision.Towards universal opportunity for young people
Outlining a vision for young people which could increase social mobility while also reducing inequality and disadvantage, so that every young person has the opportunity to build a decent life.