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Brexit vote 'weakened jobs market'

By Ravender Sembhy

Published 02/09/2016

Recruitment firm Hays has said the British jobs market
Recruitment firm Hays has said the British jobs market "significantly" weakened around the time of the EU referendum

Recruitment firm Hays has said the British jobs market "significantly" weakened around the time of the EU referendum, with the company flagging tough conditions in banking.

Hays said that while it is too early to tell what the longer term impact could be, uncertainty in the lead-up to and immediately after the vote "saw activity levels weaken significantly".

The firm said conditions were particularly challenging in local government and healthcare.

Activity in the banking market decreased 12%, and 3% across the City as a whole, while Hays saw trends weaken in construction and property towards the end of its financial year.

Experts have warned that a significant slice of London's banking industry could be shifted to Frankfurt or Paris following Britain's decision to leave the European Union.

But Hays said pre-tax profits for the full year to June 30 rose 11% to £173m.

Belfast Telegraph

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