Both June’s Brexit referendum and the surprise victory of Donald Trump in the US presidential election last month shocked markets and led to speculation about the respective economic trajectories of the UK and US. Both events also portend major changes in the legal and regulatory landscape and will have major impacts on employers, some of which remain unpredictable. Yet for all the uncertainty these countries face going into the new year, employers seem fairly bullish about the near future.
At the CIPD’s People Management blog, Marianne Calnan highlights a new survey showing that 41 percent of UK firms intend to expand in the coming year, “suggest[ing] some of the doubts around the country’s economic buoyancy may have been overstated”:
The employment trends survey from the Confederation of British Industry (CBI) and recruitment agency Pertemps found that businesses were planning to hire widely in 2017, though there were concerns about future access to migrant talent and a slight slowdown in some of the underlying hiring trends reported.
Although the pace of recruitment has slowed compared to last year’s survey, there remains a significant positive balance of companies (+28 per cent) expecting to add employees versus those expecting to shed jobs.
Uncertainty about the UK’s future relationship with the EU looms large, however, with 58 per cent of employers concerned about access to skilled migrants – compared to 31 per cent last year – and half worried about access to non-graduate migrant labour.
In the US, meanwhile, ManpowerGroup’s latest employment outlook survey finds that nearly one in five employers plans to add to their workforce in the first quarter of 2017: