1. The Brexit referendum had a significant impact on local labour markets in the UK between 2015 and 2019.
2. Regions with higher exposure to potential barriers on professional services exports saw a larger decline in online job adverts, particularly for higher skilled jobs.
3. This effect was distinct from other factors such as exchange rate depreciation, uncertainty surrounding future immigration policy, and the threat of future barriers on trade in goods.
The article titled "Unravelling Deep Integration: Local Labour Market Effects of the Brexit Vote" presents a study on the impact of the Brexit referendum on local labour markets in the UK. The study uses high-frequency data on job adverts posted online between January 2015 and December 2019 to develop measures of local labour market exposure to potential trade barriers on goods and services exports if the UK were to leave the EU without a trade deal.
The article provides valuable insights into how different regions in the UK were affected by the Brexit vote. It highlights that regions more exposed to potential barriers on professional services exports saw a larger decline in online job adverts, particularly for higher skilled jobs. This finding is significant as it suggests that Brexit has had a negative impact on certain sectors of the economy, which could have long-term implications for economic growth and development.
However, there are some potential biases and limitations in this study that need to be considered. Firstly, the study only focuses on online job adverts, which may not be representative of all job vacancies in the labour market. Secondly, it does not take into account other factors that may have influenced changes in job adverts such as changes in demand or supply conditions. Thirdly, it assumes that all regions are equally affected by potential trade barriers when this may not be true.
Moreover, while the article acknowledges some factors that could have influenced changes in job adverts such as exchange rate depreciation and uncertainty surrounding future immigration policy, it does not explore these factors in detail or provide evidence for their impact. Additionally, there is no discussion of any potential benefits or opportunities that Brexit may bring to certain sectors or regions.
Overall, while this article provides useful insights into how different regions were affected by Brexit, it is important to consider its limitations and potential biases. Further research is needed to fully understand the impact of Brexit on local labour markets and its wider implications for economic growth and development.