The European Union could see 1.73 million job losses across the 28-member bloc in the event of a no-deal Brexit, according to a study by Leuven University in Belgium. The study, commissioned by the Belgian government, showed that the UK’s departure from the EU without an agreement would cause major job losses across Europe.
The UK would suffer the most, with 526,830 job losses projected – up to five percent of its total workforce. Ireland would also be one of the worst-hit countries in percentage terms, with more than 50,000 jobs lost. The research also looked at the potential impact if the UK left the EU with a deal. In that case, the number of jobs lost across the bloc would be smaller but still significant.