Georgia’s college graduates scouring the job market may be in for a nasty surprise following the approval of Brexit.
Since Brexit was approved, the British pound has fallen more than 10% in value and is now worth less than the U.S. dollar, as reported by The Washington Post. While this may sound like good news for the U.S., it may devastate economic relations between Georgia and the U.K.
The peach state’s top export is cars from Germany and the U.K. Long term investment ties with the U.K. urbanized more 300 industries employing more than 20,000 people, reports Global Atlanta.
However, because the British economy is currently unstable, the U.K. may shut down Georgia-based British companies to cut back on expenses – resulting in employee layoffs across the grid.
Georgia’s college graduates scouting the job market must carefully choose a stable company to begin their employment in hopes that it will withstand the Brexit’s negative side-effects in Georgia.
Latisha Stevens, a General Studies major at Perimeter College online, said she feels a little hesitant to enter the job market since the economy is going through changes.
“But all countries go through changes and find ways to get back up again,” she said.
In the meantime, Georgia Governor Nathan Deal and other officials flew to Germany on July 9 for a week-long trade mission to visit corporations with U.S. headquarters in Georgia. Strengthened trading ties with Germany provide Georgia the added benefit of abiding by familiar EU commerce protocols, unlike the now “independent” Britain which lacks a definite trade policy.
Georgia may experience a surge of German corporations situated in Atlanta and featured on the job market in the next few years, if U.K.-based businesses shrink due to economic shifts in Britain. For college students seeking employment, a Georgia-based German company may be the best bet to a steady start in securing livelihood.
Sheba Kamarhie, Health Science major at the online Perimeter campus, said she doesn’t think Brexit will have a major impact on Georgia right now, but it may in the future.
“There will always be a demand for graduates who majored in health care and seek health care jobs,” Kamarhie said.