Is a devalued pound affecting the recruitment industry?

Is a devalued pound affecting the recruitment industry?

The once appealing prospect of EU nationals working in the UK to receive sterling pay, has been blighted by economic uncertainty. The pound has fallen more than 15% against the euro and around 21% against the Polish zloty since Britain voted to leave the EU, and it’s hindering employer’s abilities to fill vacancies.

Since 2003, the number of people born in other EU states living in Britain increased from 1.26 million to 3.68 million in 2017, according to Oxford University’s Migration Observatory. However, in the 12 months to March, net migration from all countries was 246,000, down 81,000 from the previous year – Reuters reports. Over half of that decrease was due to EU citizens leaving and fewer arriving since the Brexit vote, with the biggest fall among citizens of eight eastern European countries.

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