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The Potential Impact of Brexit on Employment

Employment levels is one of the most important metrics modern societies have to determine how well things are going. Unemployed people end up being poorer, less satisfied, unmotivated people, so unemployment is a thing to be avoided.

One of the biggest concerns about the risk of the UK leaving the EU is the damage it will do to businesses that depend upon inter-European trade to thrive. The fear is that leaving the EU will create such a loss of trade that many of these businesses will have to lay off their staff, flooding the market with a multitude of new workers.

While this fear isn’t totally unfounded, we can say that it isn’t a certainty either. International trade agreements, the kind that would protect any major fallout like this from happening, are pretty standard around the world; the chance of us getting cut off from trade are doubly unlikely thanks to the trade-imbalance the UK has with the rest of the EU (we buy more than we sell).

If Brexit has an impact on the levels of migration, which seems to be the motivation behind many people wanting to leave, then the lower levels of immigration could see an increase in demand of workers above and beyond what the UK is able to provide.

Falling Oil Prices and the Global Repercussions

Many people will be pleased to hear of how the oil prices have dropped from their high in June of $112 per barrel all the way down to around $72 now, but their are serious consequences to the price falling down so low. It damages the massive investments which have been made into the oil industry, which may ultimately have an effect upon our pension funds.

Due to the high prices of oil, places where oil exploration and extraction were previously not economical were suddenly able to be exploited, and we saw massive investments into shale oil extraction throughout the USA, which is actually largely responsible for their economic recovery. Because of the drop in price, this investment is now in jeopardy; and is likely to continue to be in such a state for quite a while.

Prices of oil have dropped largely due to the influx of oil from the USA, while at the same time OPEC have been expanding their oil extraction. Whether or not this has been a purposeful effort by OPEC purely to make the USA operations impossible has not been confirmed, and their are numerous possible explanations for their actions. Only time will tell how much damage this will cause to the recent USA investments.

Is the Ed Miliband Deficit Error Significant?

Most people, including Ed Miliband himself, will know that he made monumental error in his election speech. He failed to speak about the ‘deficit’ and that’s mainly due to the fact that he opted to not use notes, and instead try to remember the entire speech and deliver it more powerfully, much like David Cameron does.

Some argue though, that it’s been blown out of proportion, and the fact is, it was a mistake. That doesn’t necessarily mean that Labour will completely ignore the deficit if they get voted in. That just isn’t the case and the whole of the UK knows it. But this mistake has given conservatives plenty of materials for their own camping. For example, they’ve launched an advert mocking Miliband for forgetting about the deficit, while they make it the top priority.

Whether you feel the mocking is unfair or not, you do have to admit that the election debates are heating up, and it will be interesting to see what happens when Miliband and Cameron go head to head.

The Effects of Scotland Leaving the Union

One of the most important debates currently occurring within the UK is whether or not it would be good for Scotland (and the rest of the UK) if they left the UK, and become an independently governed state within their own right. This is a very tricky subject to tackle, and even most experts don’t really have an idea of the results, although this is partly due to a lack of understanding of the results of what is ultimately a political process will be, and it encompasses lots of different issues throughout the UK.

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Currently, Scotland is run by either a devolved government or by the UK (depending upon the responsibilities in question). This gives them the ability to manage a lot of the national budget, but no control over the central bank, and none over the Diplomacy either. Any changes to our current system will likely mean alterations to the relationship pertaining to the pound, and to the diplomatic relations we have with other countries where it is based upon trade.

Finding Work as a Graduate

Most people go to university expecting it to give them tremendous benefit when looking for a job, but the reality of the situation is rarely so clear cut. It comes down to the subject you’ve taken and where you’ve taken it; how broadly applicable are the skills you’ve learnt? Does the course offer good reviews from business leaders? Are there a lot of jobs pertaining to the specific subject you’ve undertaken? All of these are questions you should ask yourself when looking for a job. Or better yet, you should ask them before you’ve taken your course, as it will give you a more realistic impression of what value you’re getting for the 3-4 years you’ll end up putting into getting you’re degree.

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It is important, as a recent graduate, that you manage your expectations: don’t go out expecting to get an amazing job right off the bat, and don’t be condescending to offers for work when they are few and far between.