What can young Brits expect after Brexit?

By Swindon Link - 18 July 2018

Community

Brexit is the biggest issue facing the UK at the moment, with ongoing negotiations creating a lot of uncertainty about the economic future of the country as a whole.

This is particularly worrying for young people who are either still in education or just beginning their working lives.

The instability brought about by Brexit has already had a negative impact, with growth falling to just 0.1 per cent and the value of the pound plunging.

So what can the emerging generation expect once the UK leaves the European Union on the 29 March 2019?

Image Source: Saifullah Hafeel

The Rise of Remote Working

Although the economic outlook for the UK may seem bleak, young people today can benefit from the fact that digital technologies are breaking down the limits of the traditional workplace.

More than four million people around the country already take advantage of the option to work from home. And the concept of becoming a digital nomad has gathered pace in recent years, with qualified Brits packing up and heading overseas to travel the world, all while earning a living through remote working.

Many businesses also offer attractive international work opportunities in other parts of Europe, which are available today and will remain relevant after Brexit. On Casumo Careers there are lots of positions in places like Malta and Barcelona which suit people with different language skills and areas of expertise, for example.

Some observers argue that young people need to embrace remote working, freelancing and the ‘gig economy’ to survive as a lack of stability takes hold. But getting a job with an up and coming company is still an option that plenty of graduates should take.

Opportunities at Home

If you don’t want to jet off to another part of the planet to find work, then the impact of Brexit may actually make it easier to find a role to fill in the UK, at least in theory.

Businesses are bracing themselves for a significant drop in the number of workers available to fill positions across a range of industries. As a result, experts are encouraging organisations of all sizes to plough some much-needed cash into engaging with the younger generation and training them to make up for this impending shortfall of staff.

From healthcare to the hospitality sector, there will be a wide range of areas in which Gen Z-ers will be able to get a job. Although the likelihood of home-grown employees being numerous enough to avoid staff shortages seems slim at the moment.

More Affordable Housing

Property prices have exploded over the past decade, leaving many young people wondering how they will ever be able to afford to get on the ladder. Even the 2008 financial crisis did little to slow the ever-rising expense associated with buying a house, especially in London and the south east of England.

Experts suggest that as Brexit looms and inflation rises, property values will finally begin to settle down. This will not make the dream of buying in the capital any more attainable for millions of first-timers, but it will put the brakes on a market that has got out of hand in recent years.

Whether or not it will become easier to get a mortgage in the first place is another issue and one to which there is no certain answer.

The issue of affordable housing is one of the things which is encouraging more young people to seek their fortunes overseas, boosting the appeal of becoming a digital nomad and working in a place with a lower cost of living.

Image Source: Slon Dot Pics

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