UK Employers Scale Back Hiring Plans After Brexit Vote – Survey

British employers have turned more cautious about hiring and are less likely to invest in training for their workers following the decision in June by voters to leave the European Union, a survey showed on Monday.

The proportion of employers expecting to increase staffing over the next three months dropped from 40 percent before the referendum to 36 percent after it, according to the CIPD, an organisation representing human resources professionals, and staffing firm Adecco Group UK & Ireland.

One in five employers expected to reduce investment in training and skills as a result of Brexit and the subsequent fall in the value of the pound which will push up the cost of imports. Seven percent planned to invest more.

Reuters

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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.