‘Hard Brexit’ could draw employers

The volume of UK workers sizing up job opportunities here has shown no let-up since Britain’s EU referendum in June and is expected to rise further on the back of expectations for a so-called hard Brexit, new data show.

A study by leading online recruiter Indeed shows that, in the 100 days since the UK’s vote, the level of British-based people searching for jobs in Ireland have risen by 20%, while interest in working here from people in other EU countries has risen 13%.

Indeed said that the hard Brexit tone coming from the UK government – which would see it surrender total access to the single market in return for full control of its borders – is likely to see more workers seeking a future in Ireland.

“The increase in people looking at jobs outside the UK... is both sustained and increasing,” said Indeed’s economist for the EMEA region, Mariano Mamertino.

“As the only English-speaking EU member, with the fastest growth rate and flexible labour markets, Ireland is well-placed to attract these labour flows and potentially additional foreign direct investment.

“A deterioration in the hiring appetite of employers coupled with increasing talk of a hard Brexit and returning uncertainty over what that might mean, is now prompting many of those who had been thinking of working overseas to job hunt in earnest.”

Meanwhile, speaking at a Euro50 Group meeting in Washington DC at the weekend, Central Bank governor Philip Lane suggested that everyday non-regulatory issues — such as available office space, skilled workers, and quality of life — will be the main attractors for any financial firms looking to leave Britain in order to keep an EU location.

Mr Lane said: “The locational strategies of financial firms should not be driven by regulatory considerations, but should rather reflect the typical determinants in the economic geography literature: Availability of skilled labour and suitable office accommodation; quality of public infrastructure; relative cost levels — both wage and non-wage components — national education, legal and tax systems; language and cultural factors; and relative attractiveness in relation to ‘quality of life’ indicators.”