Searching for smart, safe news you can TRUST?

Support safe, smart, REAL journalism. Sign up for our Axios AM & PM newsletters and get smarter, faster.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Searching for smart, safe news you can TRUST?

Support safe, smart, REAL journalism. Sign up for our Axios AM & PM newsletters and get smarter, faster.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

The Airbus A350 flies at the China International Aviation & Aerospace Exhibition. Photo: Power Sport Images/Getty Images

With a little more than nine months to go until the United Kingdom leaves the European Union, the country is bracing for a workforce shortage that could cause companies to divest and head elsewhere.

Why it matters: It’s been two years since the Brexit vote, and Prime Minister Theresa May and the country's Conservative government are still attempting to weave legislation through the House of Commons to set the terms of Brexit. Until then, businesses will be left in limbo on what to expect for the country's industries — and some of the fallout is already taking place.

The affected industries

Businesses are "increasingly panicky" about whether the Brexit legislation will be a good deal for them, Jonathan Portes, a professor of economics at King's College London tells Axios.

  • Aerospace company Airbus said in a statement that it's considering leaving Britain altogether. The company employs 15,000 people in 25 locations in the U.K. "In any scenario, Brexit has severe negative consequences for the UK aerospace industry and Airbus in particular. Therefore, immediate mitigation measures would need to be accelerated," Airbus COO Tom Williams said in the company's Brexit risk assessment.
  • Nearly all of the seasonal jobs in the U.K., like fruit picking, are held by migrants from Eastern European nations. Last year, unpicked fruit on farms were left to rot due to the shortage of workers. British farmers are already investing in other countries like China as well as other parts of Europe, per The Guardian.
  • Financial service jobs like banking may head Germany after the U.K. leaves the EU. The Bank of England estimates 75,000 financial services jobs could be lost following Brexit, according to the BBC.
  • The number of nurses who registered to practice in the U.K. dropped 96%, according to a June report by the Nursing and Midwifery Council.

What to watch: The size of the British workforce is expected to shrink substantially with only about 820,000 new people by 2025, according to employment consultant Mercer. About 2 million people entered employment during the prior 10 years.

It's very hard to imagine how the vote will not affect Britain negatively, Portes said. Because of the vote, people are already less willing to come to the U.K. as it has become viewed as a "less welcoming place" and less guaranteed, financially. Per a CIPS survey:

  • 63% of European businesses expect to reduce their use of U.K. suppliers.
  • One out of five manufacturers plan to lay off workers due to increased costs after Brexit.
  • 65% of businesses are concerned about the future strength of the pound.

Go deeper:

Go deeper

Updated 2 hours ago - Politics & Policy

Key government agency says Biden transition can formally begin

General Services Administrator Emily Murphy. Photo: Alex Edelman/CNP/Getty Images

General Services Administrator Emily Murphy said in a letter to President-elect Joe Biden on Monday that she has determined the transition from the Trump administration can formally begin.

Why it matters: Murphy, a Trump appointee, had come under fire for delaying the so-called "ascertainment" and withholding the funds and information needed for the transition to begin while Trump's legal challenges played out.

Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Vaccines: Key information about the effective COVID-19 vaccines — Oxford and AstraZeneca's vaccine won't just go to rich countries.
  2. Health: U.S. coronavirus hospitalizations keep breaking recordsWhy we're numb to 250,000 deaths.
  3. World: England to impose stricter regional systemU.S. hotspots far outpacing Europe's — Portugal to ban domestic travel for national holidays.
  4. Economy: The biggest pandemic labor market drags.
  5. Sports: Coronavirus precautions leave college basketball schedule in flux.

Michigan board certifies Biden's win

Poll workers count absentee ballots in Detroit, Michigan on Nov. 4. Photo: Salwan Georges/The Washington Post via Getty Images

The Michigan Board of State Canvassers certified the state's election results on Monday, making President-elect Joe Biden's win there official and granting him the state's 16 electoral votes.

Why it matters: Republican Party leaders had unsuccessfully appealed to delay the official certification, amid the Trump campaign's failed legal challenges in key swing states.