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Employers’ confidence in the economy drops to lowest level since Brexit vote

PUBLISHED: 09:12 20 September 2017 | UPDATED: 09:12 20 September 2017

File photo of EU and UK flags. Photo: Stefan Rousseau/PA Wire

File photo of EU and UK flags. Photo: Stefan Rousseau/PA Wire

The UK’s political climate is not doing any favours for employers’ confidence in the economy, which has fallen to the lowest level since the EU referendum, according to a new report.

Research by the Recruitment and Employment Confederation (Rec) showed that a third of employers believed economic conditions were getting worse.

Almost two out of five of the 600 employers surveyed said they expected to be hit by a shortage of temporary agency workers to fill vacancies, especially in the construction industry.

Kevin Green, chief executive of Rec, said: “Employers are showing a great deal of resilience as they continue to hire despite a growing number losing faith in the direction the economy is heading.

“The political climate isn’t helping the situation. Businesses need clarity in order to plan effectively and so far the Brexit negotiations have not resolved any of the core issues.

“Employers are worried about how they will fill vacancies in the future. There are now just 1.9 unemployed people for every vacancy, and net migration from the EU is falling, which means the pool of people available to employers is shrinking.”

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