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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

Virginia lawmakers vote to legalize marijuana in 2024

Virginia Gov. Ralph Northam. Photo: Alex Edelman/Getty Images

Lawmakers in Virginia on Saturday approved compromise legislation that would legalize marijuana in 2024, putting the state a step closer to becoming the first in the South to end prohibition on the drug, the Richmond Times-Dispatch reports.

Why it matters: The legislation will make Virginia the 16th state to legalize marijuana, per Politico. It would add to a slate of laws that have seen Virginia move in a more progressive direction during the tenure of Gov. Ralph Northam.

Scammers seize on COVID confusion

Data: FTC; Chart: Sara Wise/Axios

Scamming has skyrocketed in the past year, and much of the increase is attributed to COVID-related scams, more recently around vaccines.

Why it matters: The pandemic has created a prime opportunity for scammers to target people who are already confused about the chaotic rollouts of things like stimulus payments, loans, contact tracing and vaccines. Data shows that older people who aren't digitally literate are the most vulnerable.

14 hours ago - Health

FDA authorizes Johnson & Johnson's one-shot COVID-19 vaccine for emergency use

Photo: Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images

The Food and Drug Administration on Saturday issued an emergency use authorization for Johnson & Johnson's one-shot coronavirus vaccine.

Why it matters: The authorization of a third coronavirus vaccine in the U.S. will help speed up the vaccine rollout across the country, especially since the J&J shot only requires one dose as opposed to Moderna and Pfizer-BioNTech's two-shot vaccines.