Friday, 24 June 2016

BREXIT: FOREIGN WORKERS IN THE UK?

Nothing will change immediately
But...

What will happen precisely, over what time scale, has still to be determined, see the following article for speculations about possibilities (there are plenty more):


This is of course all at the formal level. The informal level introduces further powerful factors – wages. Jobs in the UK will of course continue to pay salaries and wages in pounds sterling but this morning all UK jobs suffered and immediate pay cut in comparison with jobs paid in Euros, dollars and other currencies because of the fall in in the value of the pound.

This fall could be temporary or permanent, or get worse. No one can predict. So, in a competitive international jobs market, add financial uncertainty and lack of financial confidence to the factors that would-be employers of foreign labour may have to consider in coming years.

As for foreigners already employed in the UK, see the link already provided above which is generally reassuring about their position if they wish to stay.

Brits in the EU

The article referred to here also mentions the contrary situation of Brits' working in the EU, being similarly reassuring about the position of those who already have an EU job.

At the level of individual personal choices of where to work, Euro salaries went up some ten percent this morning in terms of what they are worth in pounds. Where they will be by tonight, or by Monday morning is anyone's guess.

Previous posting on Brexit and CE:





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