The United Kingdom economy has been facing serious issues way before the Brexit was announced 3 years ago in 2016 but the economic conditions have especially seen a huge spiral down after this issue.
In the UK there are 32.7m jobs, but only 2.9m are in manufacturing the United Kingdom has seen a major fall in its employment rates and with the Brexit going through it is expected to worsen the situation and the United Kingdom economy is imminent of crisis in the employment sector that is already very fragile. The main change has been due to the food delivery apps and other innovative ride sharing giants who have cut down the local jobs due to loss of earnings and as the new advanced alternatives are providing better service than the conventional and traditional ways. What has been a issue is that the economy used to receive a major chunk form public transport facilities which are huge in the United Kingdom and these ride sharing services have just bitten down a huge chunk if their audiences.
The innovations are good but they are hurting the economy and this is having a huge impact which was cushioned until the nation was in European Union which was balancing out its issues and there are changes to that and it will have catastrophic effects on the employment and the economy that comes from it. So it will be interesting to see how the nation deals with it after it has the Brexit deal done and leaves the union finally.
Tags : Economy, Manufacturing, Service,