Employment grows in strong post-Brexit economy but concerns remain
Employers intend to keep hiring in a post-Brexit Britain, but there are ongoing concerns about the long-term implications of Britain’s stand-alone policy in Europe. The Net Employment Outlook
from Manpower Group is predicting that net employment will continue to rise for the rest of the year, defying predictions of a post-Brexit slump. Employment prospects play a critical role in consumer confidence as they provide the certainty needed to make purchasing decisions, particularly for major items such as housing or cars. However, Manpower reports there are early warning signs that growth will not last without political and economic certainty in the long-term, particularly after the UK triggers Article 50
to formally leave the EU. Mark Cahill, ManpowerGroup UK managing director said: “The future of freedom of movement across the EU is of particular concern. UK businesses are reliant on European talent to help fill the skills gap.” The industries predicting the biggest risk are business services, construction, financial services and utilities. The research highlights the importance of engaging closely with key industries to accurately predict vehicle demand and also pinpoint any risks of future employment disruption, which could impact on the new and used car market.