How is EU instability affecting the job market?

Posted on Wednesday, January 30, 2019 by Anne Jagger Recruitment — No comments

It is believed that uncertainty around Brexit is causing a lack of supply and demand in the job market, at least according to a KPMG report.

Make no mistake it is a very uncertain time out there and any recruitment agency, telling you they haven’t noticed it, is lying to you. It is not all doom and gloom though. Businesses still need to operate and move forward. People still need jobs. One example is the large number of vacancies for Software Engineers and Quantity Surveyors waiting to be filled.

Businesses are also looking to more flexible labour options in order to anticipate possible fluctuations. It is a wise move but where does it leave people seeking jobs? Temporary work may be the way forward for some.

The reason this is making headlines is that there has been a sharper decline in supply and demand between November and December last year after the 68th month in a row that it declined. That is 5-and-a-half years. The rates were faster in the North and the South, not including London, which fell at a weaker rate. People are waiting to see if there is a steeper decline in the coming months. It is a possibility as the impact of the recent parliamentary vote on the EU has sent shockwaves through the industry.

Neil Carberry, Chief Exec of the Recruitment & Employment Confederation is worried about the “real damage to British businesses and the millions of families they support.” He also knows that investment decisions are slowing due to the uncertainty and damaging Britain’s standing on the world stage.

There is a great deal of scepticism surrounding Brexit’s outcomes. For example, only 11% of contractors surveyed, from a group of more than 1,200, believed Brexit will benefit businesses, according to the Qdos survey.

The fear is also being felt on the continent, as workers aren’t coming over due to an uncertain work landscape. The amount of teachers from the EU applying to work in schools here fell by 25% in the last year.

There will always be instability when there is a lack of concrete information surrounding such an important topic. What can a company or a candidate do in this climate?

Of course, I would say that you need a great recruitment agency looking after you, it’s my job. Companies also need to make sure they hire the best candidates in order to save time and resources as well as to fuel the company’s productivity. Candidates need to make sure their CV is up-to-date and flawless, showing them in the best light. That also means nothing bad on social media that could trip them up when the hirer checks up on them. Research, focus and targeting are needed. Don’t waste your time on a million one-click job applications when you can apply properly for ten you are actually qualified to do. Simple actions maybe, but you would be surprised by how many don’t do these simple things.