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11 June 2021 - Brexit exodus, a factor in higher wages
"The UK continues to struggle to find workers to fill roles in the hospitality sector as the exodus of EU workers created by Brexit hits home.
With British workers content to move on to better paid roles with less onerous hours, there is a danger that rising inflation will contribute to higher wage demands in what could become a vicious circle.
It is some time since pay negotiations particularly in the Public Sector were a significant factor but as the recovery takes hold whether the 21st of June reopening happens or is delayed for a few weeks, longer term the country could become a victim of its own success.
The UK Chambers of Commerce, in a report published yesterday, forecast full year 2021 GDP to reach 6.8%, although this is dependent upon Boris Johnson’s Roadmap being fully complied with.
"
Beyond Currency Market Commentary:
Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.
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By CurrencyTransfer
5
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"The UK continues to struggle to find workers to fill roles in the hospitality sector as the exodus of EU workers created by Brexit hits home.
With British workers content to move on to better paid roles with less onerous hours, there is a danger that rising inflation will contribute to higher wage demands in what could become a vicious circle.
It is some time since pay negotiations particularly in the Public Sector were a significant factor but as the recovery takes hold whether the 21st of June reopening happens or is delayed for a few weeks, longer term the country could become a victim of its own success.
The UK Chambers of Commerce, in a report published yesterday, forecast full year 2021 GDP to reach 6.8%, although this is dependent upon Boris Johnson’s Roadmap being fully complied with.
"
Beyond Currency Market Commentary:
Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.