Jobs and Trade Post-Brexit

How will Brexit affect jobs and trade in the UK and the European Union?

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  1. Unsurprisingly, there are competing views on how Brexit will affect the jobs market. Much will depend on the outcome of the ongoing Brexit negotiations, regarding the relation between the UK and the 27 EU countries, but also towards third-party countries. Bear with us.
  2. Some believe additional jobs could be created:
  3. Read this report from the Institute of Economic Affairs for further insight into the reasoning behind this optimistic vision, including the view that the EU distorts and diverts trade:
  4. However most economists remain pessimistic about post-Brexit prospects in general, and dismiss claims of extra jobs.
  5. Instead of leading to the creation of new jobs, a very different situation is also possible: " (...) it's generally agreed that there will be a rise in unemployment if the UK leaves the EU".
  6. The financial sector in particular seems likely to suffer post-Brexit:
  7. The negative impact on the financial sector also includes Ireland.
  8. These competing claims over the effect on the UK job market are mirrored in the regions of the UK. Which of the competing views from Yorkshire do you find the most convincing?
  9. Which sectors are the winners and losers of Brexit?

  10. Over 3 million jobs might be linked to the EU, but whether they are in danger will depend on the final agreement between the UK and the other 27 EU countries. A 'bad' trade deal could be disastrous for UK jobs, investment and growth.
  11. Some argue that Brexit has already made UK citizens poorer, due to a weaker pound, higher inflation, and lower real wage growth. As a result, prices of food could increase.
  12. But is the EU making your sandwich pricier already? Here's a view that "EU protectionism means that huge additional expense is imposed on consumers who might wish to buy products from outside the bloc: on dairy products tariffs are 54 per cent, on sugar 31 per cent and on cereals 22 per cent.":
  13. Lower food prices? Yes please.
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