In recent weeks, the chances of a dreaded no-deal Brexit
occurring have increased exponentially ahead of the deadline on March 29th. A new study has looked into that scenario's potential impact on jobs across the world. The analysis was carried out by the Halle Institute for Economic Research (IWH)
, focusing on 56 industrial sectors across 43 countries while assuming a 25 percent drop in EU exports to the UK in the event of a hard Brexit.
It found that Germany could lose the most jobs with around 103,000 threatened if the UK crashes out of the EU with no deal
. Even though Europe's economic powerhouse could be impacted most in terms of the sheer number of jobs, the situation is different when it comes to the share of total employment threatened. In this case, only 0.24 percent of Germany's workforce would be under threat compared to 1.03 percent of all jobs in Ireland. That's despite "only" 19,800 Irish jobs potentially being impacted.