A decision to leave the EU could bring the UK jobs market to a standstill, according to new research from CV-Library.
The study found that 66.1% of recruiters in the UK believe a possible Brexit will have a negative effect on the UK labour market, with 55.6% believing that it would be particularly harmful to workers.
The research, which surveyed over 2,000 recruitment professionals in the UK, revealed the key areas where recruiters expect there to be significant impacts:
- 60.9% believe job cuts would be inevitable
- Over two thirds (66.3%) agree there will be increased skills shortages
- 57.5% warn that a lack of EU workers will drive up recruitment costs
- ….and pay rises could also be put on hold, according to 40.6% of recruiters
The research found that over two thirds (66.9%) of recruiters stated concerns over the loss of business in Britain’s labour market if the UK leaves the EU, with 46.6% believing that there will be fewer positions to apply to due to financial strains amongst organisations.
Mr Biggins added: “Britain is an international hub, with many large corporations basing their European headquarters in the capital. If the nation does decide on a Brexit, employers could face a lack of foreign investment, as well as a huge reduction in available talent, resulting in a major shift in the nation’s job market. While the candidates that obtain the key skills currently in demand should be able to use this to their advantage, businesses facing cuts as a result of leaving the EU may not be able to meet their expectations, particularly when it comes to salaries.”