Pressure to raise pay will grow for some sectors - Bank of England's Broadbent

  • 11/9/2021
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Bank of England Deputy Governor Ben Broadbent said on Tuesday that he expected post-lockdown strains in the labour market would ease off, but some sectors might continue to be constrained by staff shortages which will push up wage costs. “I think those strains will lessen over time,” Broadbent told a panel of lawmakers considering the shortage of workers in the food and farming sectors. “The (negative) influences on participation may go away. But ultimately, yes, part of this - certainly in certain sectors, it is very clear - is resulting in higher wages.” (Reporting by William Schomberg Editing by David Milliken)

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