Bank of England Governor Andrew Bailey who is currently testifying before the UK Parliament Treasury Select Committee, said on Wednesday that the very tight UK labor market is a concern and has the potential to put upward pressure on wage negotiations.
Featured Statements
“Some aspects of current inflation should be transitory, such as energy and supply chains.”
“It is necessary to take into account the inflationary pressure of the labor market, this influenced my thinking about the December rate increase.”
“The UK job market is very tight in terms of supply.”
“This week’s labor market data shows unemployment is back to pre-Covid levels, and inactivity is higher.”
“We don’t know if people will go back into the job market or retire earlier.”
“The expansion of the public sector has created more competition for labor.”
“The total workforce is probably smaller than we anticipated, we can’t separate the effects of covid and Brexit.”
“The very tight labor market is a concern.”
“The tight labor market has the potential to push up wage negotiations.”
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
