CBI warns staff shortages may stoke inflation, with wages are forced up to pull in workers after lockdown sparks an 400,000 to take early retirement
The CBI said 76 per cent of firms had reported access to staff as a threat to the UK's competitiveness, the highest proportion since the annual survey began As employers are having to boost starting salaries to lure workers, the CBI cautioned that prices could rocket for consumers As Covid restrictions have eased, firms have struggled to recruit staff, with around 400,000 older workers thought to have taken early retirement after re-evaluatuing their life By Lucy White For The Daily Mail
Published: 00:01 BST, 20 September 2021 | Updated: 09:27 BST, 20 September 2021
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Staff shortages are dragging down the UK's attractiveness as a place to hire workers – and could lead to soaring prices, a business group has warned.
The Confederation of British Industry (CBI) said 76 per cent of firms had reported access to staff as a threat to the UK's competitiveness, the highest proportion since the annual survey began 24 years ago.
And as employers are having to boost starting salaries to lure workers, the CBI cautioned that prices could rocket for consumers unless output increases with wages.
Stacking up: The CBI's annual survey with recruitment firm Pertemps Network found that 24 per cent of businesses expect to increase pay above inflation
As Covid restrictions have eased, firms have struggled to recruit staff, with around 400,000 older workers thought to have taken early retirement
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