Job market

Almost a million EU citizens working in Britain – many of them young, highly qualified and much sought-after by businesses – are either planning to leave the country or have already made up their minds to go as a result of Brexit, a study has found.

A survey of 2,000 EU workers in Britain by KPMG, the professional services firm, found that 55% of those with PhDs and 49% of those with postgraduate degrees were either planning to go or were actively considering it.

If all of those considering departure actually left, it would reduce the UK’s national workforce by 3.1% – almost one million people – said the consultancy firm.

Brexit is set to deliver a much-heralded jobs boom with over 80,000 new roles to be created in Frankfurt.
A new report released by lobby group Frankfurt Main Finance found that the expected influx of 10,000 financial services staff over the next four years – fuelled by relocation plans and a banking exodus from London – will result in the creation of up to 87,667 new roles throughout the Rhein-Main-Region.

Net migration to Britain has fallen to a three-year low as a growing number of European Union citizens have left the country following last year’s Brexit referendum.

Data released Thursday by the Office for National Statistics provides evidence that the uncertainty and economic jitters caused by Britain’s vote to quit the EU are deterring immigrants and sparking a "Brexodus."

The Home Office sent about 100 letters "in error" to EU citizens living in the UK, telling them they were liable for "detention".
The mistake emerged after a Finnish academic, who has the right to live in the UK, received one of the letters.
Eva Johanna Holmberg, a visiting academic fellow from the University of Helsinki at Queen Mary University of London, was told in the letter that she had a month to leave. She has lived in the UK with her British husband for most of the last decade.

Freedom of movement for millions of British and EU citizens will end in 2019 when Brexit takes effect, the U.K. government insisted on Monday. The statement appeared to rule out transitional post-Brexit arrangements recently raised by a senior British minister.

“There were reports last week that we were looking for an off-the-shelf model; we are not looking for an off-the-shelf model. Precisely what the implementation model will look like is up for negotiation,” a government spokesperson said, adding more confusion to Brexit affairs.

The eurozone’s unemployment rate has fallen to its lowest level in more than eight years, but the annual rate of inflation is unchanged, new data showed Monday, highlighting the challenge at the heart of the European Central Bank’s decision on dialing down its stimulus programs.

The European Union’s statistics agency said the proportion of workers without jobs across the 19 countries that use the euro fell to 9.1% in June from 9.2% in May, reaching its lowest level since February 2009. But consumer prices were just 1.3% higher in July than a year earlier, as the rate of inflation was unchanged, at its lowest level in 2017.

The government is commissioning a "detailed assessment" of the costs and benefits of EU migrants as it plans how to manage immigration after Brexit. A new set of rules is needed for when EU free movement ends in the UK.
An independent committee, tasked with drawing up the Government’s immigration policy post-Brexit, has been asked to look specifically at how EU migrants affect different sectors of the UK economy amid suggestions new rules could be made for different industries.

Research by think tank the Centre for London concludes that the looming EU exit could be a factor in reducing numbers of Europeans coming to the capital to work, a slowdown in job creation, declining business confidence and decelerating house price growth.

The report underlined an economic slowdown included deteriorating house prices and plummeting business confidence, coinciding with a drop in the numbers of Europeans registering to work.