Read expert research from CBI Economics on the impact of labour shortages in the long-term – and how policy can tackle current challenges.
What do you get if you mix business interviews, international benchmarking, literature review, and some economic modelling together? As the CBI Economics team found out, you get a fantastic assessment of the challenges within the UK labour market.
We were commissioned by the Recruitment and Employment Confederation (REC) to research the economic impact of skills and labour shortages in the UK, the challenges businesses are facing and how UK policy stacks up with other G7 countries.
You’re probably aware of the current UK challenges on skills and labour shortages – so our research tried to quantify the cost behind labour shortages for your business, and the impact on different economic channels.
Some of the most interesting findings come from how the economy/businesses would react if there was a big increase in demand, in a world where the labour market could not react.
The results are that we’d expect:
- Lower economic growth: as one of the inputs to production remains f
Exclusive member-only content
