Economy

The BREXIT braindrain – more of a trickle really so far.

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Looking at government data showing the level of educational attainment for EU nationals working in the UK during the past year or so, it appears to be true that there has been a slight fall in the proportion with HE level qualifications (i.e. predominantly those with degrees) – down from 49% in Q1.16 to 46% in Q4.17 – but, there was also a slight rise in the proportion holding ‘other… Read More »The BREXIT braindrain – more of a trickle really so far.

Decline in the number of EU nationals working in Finance/Insurance industries post BREXIT.

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Overall, the proportion of EU nationals working in these sectors fell from 6% to 5% over the Q2.16-Q4.17 period, whilst the decline was even more pronounced in many of the industry sub-sectors – notably Security and commodity contracts brokerage services, where a fall of 7 percentage points was apparent (i.e.  down from 17% to 10% over the period).

Tech employers increasingly looking to EU nationals to plug the industry skills gap.

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Following a notable decline in the aftermath of the BREXIT vote, the proportion tech industry workers with EU nationality was seen to increase throughout the second half of 2017 with a particularly sharp rise occurring over the Q3-Q4.17 period. As a result, by the final quarter of 2017, approximately 8% (83,000) of the industry workforce (1,093,000 people in total) were thought to be of EU nationality.

Despite BREXIT uncertainty, the aerospace industries are increasing their reliance on EU nationals who now account for 10% of the workforce:

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There were 285,000 people working in aerospace during the final quarter of 2017, of which 28,000 were EU nationals – up from 19,000 in the final quarter of 2016  and 16,000 at the time of the BREXIT vote. The increase in EU nationals was most pronounced amongst aerospace manufactures where representation almost doubled from around 6% to 10% over the period (Q1.16-Q4.17).

The BREXIT effect is likely to greatest for employers with a high proportion of staff in ‘low level occupations’ i.e. ‘process/plant/machine operatives and elementary occupations’.

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The BREXIT effect is likely to greatest for employers with a high proportion of staff in ‘low level occupations’ i.e. ‘process/plant/machine operatives and elementary occupations’. Most notably, 48% of ‘Packers, bottlers, canners and fillers’ were of EU nationality in the last quarter of 2017 and 44% of ‘Food, drink and tobacco process operatives.’