UK | Labour shortages are more a nibble than a bite
Construction and, to a lesser extent, manufacturing and agriculture were the only UK sectors to suffer significant labour shortages in July, according to our new proprietary index of hiring mismatches. Labour shortages spiked in the early stages of the pandemic due to the lockdown, huge take up of the furlough scheme, and migrant workers leaving the UK. But since then, the dearth of workers has eased significantly.
What you will learn from this report:
- Only construction, manufacturing and agriculture are
currently experiencing bigger mismatches than normal - Despite the well-publicised shortage of HGV drivers, mismatches in the transport sector as a whole were below average levels in July
- Two sectors report mismatches in line with long-run average
levels
Tags:
Related Services
Post
UK: Sterling’s woes, Kwarteng’s vows, Bailey in the middle
The negative market reaction to last week's fiscal announcements appears to be a function of doubts over the credibility of the UK government's long-term fiscal plans. Though we think the structural position is not as bad as last Friday's drop in asset prices implies, it's clear the government will struggle to retain credibility if it fails to engage with market concerns.
Find Out More
Post
BoJ to look through a temporary decline in monetary base
The Bank of Japan (BoJ) left monetary policy unchanged at today's (22nd Sep) meeting, maintaining current short- and long-term interest rates, despite another wave of yen weakening and upward pressures on JGB yields.
Find Out More