Survey of employers in the UK show tightest labour market in its history
Employers are facing the most severe shortage of job candidates on record.
This is based on a survey from the UK's Recruitment and Employment Confederation (REC):
- pace of recruitment for permanent posts hit the highest in the survey's nearly 24-year history last month.
Reasons cited include:
- the post-lockdown surge in the economy and Brexit
- pushing up starting pay for permanent staff at an unprecedented pace
- shortages of staff
- reluctance by employees to switch roles due to the pandemic
- fewer European Union workers
- skill shortages
IF employers respond with wage rises the case for a BoE tightening solidifies further and sooner.