Immigration and the UK Labour Market in Financial Services: A Case of Conflicting Policy Challenges?
In the context of its emergence as one of the leading sectors in the UK economy, this chapter seeks to understand the relationship between the financial service sector and immigration. It does this by unpacking the specific nature of the industries covered within the sector and their need for migrant labour. An examination of the nature of employer demand in financial services is followed by an analysis of labour supply, along with the recruitment practices employed by firms in various sub‐sectors. The chapter then goes on to assess the implications of recent trends in this diverse sector for public policy on immigration, and points to national‐level regional variations and current trends. It ends by considering what options employers have in responding to staff shortages in financial services.
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