The true cost of labour shortages: find out how firms are thinking about jobs, pay, and the impact of shortages in a year of economic turbulence.
In partnership with Pertemps Network Group, our Employment Trends Survey tracks labour market trends and challenges facing businesses across the economy.
Despite strong demand for goods and services, labour and skills shortages continue to hold back growth. This years’ results show that 75% of businesses have been affected by shortages in the last 12 months, with wide ranging impacts - nearly half (46%) of those who have faced labour shortages say they have been unable to meet output demands, and 26% are reducing planned capital investment in the business.
The results reflect the need for government to work with businesses to address shortages by taking long-term steps to boost productivity in the long-term, such as introducing incentives to unlock business investment in automation and creating a skills system that is responsive to economic needs by turning the Apprenticeship Levy into a flexible Skills Challenge Fund. This should be paired with action to increase la
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