Brexit: UK services companies recruitment numbers at 25 year lows (in brief)

With less than six months to go before the UK leaves the EU, the British Chambers of Commerce (BCC) has observed that job creation is at a standstill. In its third quarterly report published on 08 October, the BCC polled more than 5,000 employers and learned that the number of services companies intending to take on staff had plummeted to 47% as compared with 60% the previous quarter, marking a low not seen since 1993. Furthermore, those looking to hire have problems finding staff with the right competences. “These figures reinforce what we are hearing from businesses up and down the country - the uncertainty over Brexit and the lack of bold moves to boost business at home are starting to bite,” warned Dr Adam Marshall, Director General of the British Chambers of Commerce (BCC). Also on 08 October, consultancy firm, Deloitte published its own report that revealed mounting pressure ahead of the March exit date. The Deloitte study found that 79% of UK financial company directors believe the long-term outlook for UK business will be worse post Brexit. This compares with 75% in the previous quarter.