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CentrePiece article

Trade and deskilling: how the post-referendum sterling depreciation hurt workers


The unexpected result of the Brexit referendum, working through the rapid depreciation of sterling, had a sizable negative impact on UK workers. New CEP work by Rui Costa, Swati Dhingra and Stephen Machin shows that the big drop in the value of the pound caused a rise in import prices, which has led to a fall in both wages and training for employees in the most heavily hit sectors.


Rui Costa, Swati Dhingra and Stephen Machin

1 July 2019     Paper Number CEPCP551

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This CentrePiece article is published under the centre's Labour markets programme.