![]() "The UK's twin problems of inflation and sluggish productivity will be harder to solve if workers continue to be absent from the labour force. Susannah Streeter, head of money and markets at financial services company Hargreaves Lansdown, has given us some analysis. This, in turn, makes inflation harder to control - and controlling inflation is the reason interest rates are raised. In simple terms, this is because fewer people in the workforce pushes up wages - as companies have to compete to fill vacancies. The record number of people off work long-term since the pandemic (it hit 2.5 million this summer) should be a concern for anyone with an eye on interest rates.
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