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Exchange Rates: Influence on Eastern European Labour Mobility


In 2005 when the European Union was extended to allow the citizens of the 10 Eastern European countries access to work in other European countries the UK allowed wider entry than any other country and this was helped by an exchange rate of @6 Zloty to the £.

By the time the economic crises started to hit in 2007 the exchange rate had slipped to @5 Zloty to the £ and other countries had started to accept polish workers to fill Skills gaps and the UK slipped down the popularity stakes falling to 4th position behind Norway (associate EU member) Netherlands and Germany.

With the £ tumbling against the Euro in 2008/9 the exchange rate approached 4 Zloty to the £ as the Polish government managed the exchange rate of the Zloty against the Euro rather than the £. This coupled with the UK recession saw the number of Poles working in the UK decline and demand to come here to work fall.

In 2010 the £ bottomed at 4.3 to the Zloty in March but is now within touching distance of 5 to the £ in early June, more as a function of Euro weakness rather than anything positive in the UK economy.

” We have not as yet seen a marked increase in demand to come to the UK from Poland, but this could be because the UK jobs market remains tighter than the press would have you believe.” commented Chris Slay of specialist Eastern European Recruiter Skills Provision ” As economic migrants the Poles and other  Eastern European nationals look for the best deal and Norway remains the number one choice at present”

 

Author: Chris Slay

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