New jobs up by 17%, as businesses undeterred by Brexit

New jobs up by 17%, as businesses undeterred by Brexit by Michael Cheary 48% of businesses think Brexit will have a negative impact on the UK jobs market down from 70% last JuneThe jobs market continued to grow in Q1 with jobs up 17% year-on-yearOver 1 in 4 businesses report a reduction in applications from EU citizens since the referendum‘Businesses moving jobs outside of the UK’ is recruiters’ number one concern about BrexitThe jobs market is continuing to grow in 2017 and businesses’ confidence is on the up, according to our latest data â€" even after officially triggering Article 50.In the weeks following the referendum last June, 70% of employers said they thought Brexit will have a negative impact on UK jobs. In a new survey of over 450 businesses conducted at the start of April that number has dropped significantly to 48%.Opportunities on the rise A further 31% of employers said they think the outcome of the UK’s departure from the EU will be positive, with more jobs on offer and lower unemployment, and 21% felt that Brexit would have no impact at all.Our figures also show that, despite Article 50 being triggered, the jobs market has continued to grow throughout the first quarter of 2017 up 10% on the same time last year. In fact, there were 250,000 jobs posted to reed.co.uk in March alone, an annual increase of 17%.Health Engineering showing the most growthAccording to the figures, Health Medicine and Engineering are amongst the sectors driving this annual growth, rising by 29% and 20% for the quarter respectively, compared to the same period last year.Overall, the regional picture for Q1 was positive, with all regions enjoying a year-on-year rise in jobs advertised.Positives and negatives Despite these positive signs, the opinion of UK employers is split about the long term impact of Britain’s departure from the EU.Here are the top three benefits that UK employers who anticipate a positive outcome think leaving the EU could have:An increased number of jobs for UK workersGrowth in ce rtain sectors (e.g exports and tourism) due to a weaker poundImproved trade arrangements with foreign markets outside the EUAccording to the research, these are the top three concerns employers have about Britain leaving the EU:Business moving jobs outside of the UKThe devaluation of the poundThe possibility of an economic downturnBusiness as usual However, the research shows that, for many businesses, these concerns have yet to manifest themselves. Only 18% of employers surveyed reported changes to their recruitment since the referendum last June, suggesting that the majority of businesses have continued hiring as usual.There are warning signs elsewhere though, with 28% saying that they had seen a reduction in applications to jobs from EU citizens during that time period.James Reed, chairmen of reed.co.uk comments: “A majority of employers said that they have not made changes to their recruitment since the vote to leave, indicating that British businesses have held firm and conti nued with their plans to recruit.Business leaders are already working hard to counter the potential impact of leaving the EU and it’s good to see that so many are optimistic about the future. A lot now hinges on a successful negotiation that works for both Britain and for Europe.”As Britain now enters into a prolonged period of negotiation with the EU, these are the top three factors that are most important for UK employers:Securing free trade or retaining the single market with the EUFreedom of movement rights across the EUAccess to skilled labourHowever, despite the optimism currently shown by businesses across the UK, it still remains to be seen how the upcoming election could affect the jobs market as we move towards May.Find out more about the job market with the  Reed Job Index.  Still searching for your perfect position?  View all available jobs now