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FX.co ★ UK employers exercising caution

UK employers exercising caution

UK employers exercising caution

After the Brexit vote, employers in the UK evaluate new applicants with greater caution. Affected by the historical decision to leave the EU, a lot of British employers are unwilling to allocate funds for training their staffers.
Most of British entrepreneurs do not plan to hire new employees in the near three months. Due to a weaker pound sterling, 20% of the UK employers will cut investments in professional education of their teams. Only 7% are considering the idea of investing as much as needed in further education of their employees. Experts assume this sentiment will push import prices up. A lot of employers are still uncertain whether Brexit will force labor migrants to leave Great Britain. Only 20% of company owners think that Brexit will trigger massive outflow of labor migrants within the year.
Economists share the viewpoint that the UK is on the verge of recession that will be followed by a period of muted economic growth. They foresee such developments due to uncertain prospects of further trade relations between the UK and EU.

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