overall, stripping out distortions, the official estimate is that average earnings are up somewhere between 4.1 and 5.6%. the negative affect of labour shortages is most obvious in specialised jobs, from tanker drivers to hospital workers. but economists warn that in spite of record vacancies of 1.1 million, there are still large parts of the economy where it is hard to find work. i think it is quite a complicated picture. if you are skilled and you re looking to work as a lorry driver, then, yes, there s lots of vacancies out there, but if you are, for example, doing the types of roles that many older workers do, if, for example, you re looking for work in london, actually the vacancy rates are really not very high at all and competition in the labour market is really quite fierce. with the recovery from the pandemic slowing down in recent months, the bank of england governor andrew bailey recently recognised that inflation might not be as temporary as he thought, meaning earlier rise
sector, pay is rising even faster, up 11.1%. overall, stripping out distortions, the official estimate is that average earnings are up somewhere between 4.1 and 5.6%. the negative affect of labour shortages is most obvious in specialised jobs, from tanker drivers to hospital workers. but economists warn that in spite of record vacancies of 1.1 million, there are still large parts of the economy where it is hard to find work. i think it is quite a complicated picture. if you are skilled and you re looking to work as a lorry driver, then, yes, there s lots of vacancies out there, but if you are, for example, doing the types of roles that many older workers do, if, for example, you re looking for work in london, actually the vacancy rates are really not very high at all and competition in the labour market is really quite fierce. with the recovery from the pandemic slowing down in recent months, the bank of england governor andrew bailey recently recognised that inflation might not be as
some of our analysis has shown, yes, if we want, if you are skilled i m looking to work as a lorry driver, yes, there are lots of vacancies out there. if you are doing for example there. if you are doing for example the types of roles many older workers do and you are looking for workers do and you are looking for work in london, the vacancy rates actually are really not very high and the competition in the labour market is really quite fierce. ts market is really quite fierce. is there a possibility that the uk economy is overheating? and what is the likelihood that we will see an increase in interest rates? t the likelihood that we will see an increase in interest rates? i think auain, it increase in interest rates? i think again. it is increase in interest rates? i think again. it is a increase in interest rates? i think again, it is a mixed increase in interest rates? i think again, it is a mixed picture. i increase in interest rates? i think| again, it is a mixed picture. th
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