There has been ample speculation following the decision to leave the EU. It’s been three months since the referendum result and as a recruitment agency, we have yet to see a decline or an impact on the industry. Recruitment is still strong with full time positions on the rise and temporary staff still high in demand.
According to the latest report by the REC, the job market is in a healthy state and shows for the second time that there is a rise in permanent staff within the UK.
REC Director of Policy Tom Hadley says: “This month’s report contains further evidence that UK employers have shrugged off the initial shock of the referendum result. Overall, permanent hiring is in growth for the second consecutive month. Even more encouraging is the growth in vacancies; consumer confidence and strong demand on businesses has ensured that hirers are creating new jobs”
The report also found the following:
Hiring for Permanent Positions is on the rise
Many businesses have moved ahead with making permanent positions and continue to do so 3 months on.
Demand for Temporary staff is high
Demand for temporary staff has risen every month within 2016 and continues to rise after Brexit, particularly within the private sector.
The National Living Wage & National Minimum wage still apply
There has been no change to either wage since Brexit. From October 2016 there will be new National Minimum Wage rate for those under 25, increasing to £6.95 an hour, with the National Living Wage possibly increasing in April 2017.
All regulations regarding EU citizens in the UK and UK citizens in the EU are still the same
There has been no change in status for either UK or EU citizens and, according to the REC, it is unlikely to change during the two-year period in which negotiations for the terms of withdrawal from the EU are made. This period of discussion may also be elongated depending on the outcomes of the talks.
The number of people currently in employment is at a record-high
Currently, 74.4% people in the UK are in employment, with the unemployment rate being the lowest it has been in 10 years.
The next six months will be critical. We’re likely to see an increase in demand for employees in the run-up to Christmas, and by the end of the year we will hopefully know more about how and when Article 50 will be triggered which will have an impact on the long-term plans of many businesses. We will continue to strive forward with ‘business as usual’ along with the majority of the country.