Tracking Brexit's Impact on Jobs

Tracking Brexit's Impact on Jobs


Brexit -- the United Kingdom's vote to leave the European Union -- initially sent shockwaves through the global economic markets. The value of the pound plummeted immediately following the June 23 vote, as did commodities and stock trading around the globe.

Markets can have an impact on hiring, both positively and negatively, so the chaos Brexit caused worldwide might understandably give job seekers pause.

According to the Financial Times, one-quarter of British employers planned to put a freeze on hiring while navigating the political tangle. That's the bad news. The good news is that one-third of British employers plan to hire with the same approach now as before ballots were cast.

Nearly a week after the vote, both global and American markets quickly stabilized. How much impact the fluctuation had on hiring in the United States -- if it had any at all -- will be evident when the Department of Labor releases its next hiring numbers on July 8.

Unemployment fell to 4.7% in June, though overall hiring was slow. The summer months typically bring increases in hiring, particularly for part-time jobs.

In the meantime, there are ongoing developments with the Brexit vote that require a wait-and-see approach. The vote's full impact on hiring may not be known for a while.

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