Recruitment records significant decrease following EU referendum vote

British firms are significantly less likely to hire new staff following the outcome of the EU referendum, recent data released by corporate insight firm CEB has been able to suggest.

The number of vacancies being advertised online had dropped dramatically, falling by almost 50 per cent in the week following the 23 June vote to leave the EU.

CEB’s TalentNeuron tool recorded 1.47 million job openings from 14-22 June – and just 820,000 from 23 June to 4 July. This 44 per cent fall compared with a minor rise over the same timescale the previous year.

CEB HR practice leader Brian Kropp said fluctuations tended to be under 10 per cent in the average week. “This is an early indication that UK-based companies are pulling back from hiring following the EU referendum result,” he said.

“At this stage, it is unclear if this is an early shock reaction from employers, and whether this trend will continue. However, if recruitment budgets do contract and open headcounts are frozen, it will certainly have a negative impact on the UK economy.”

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