British Companies Are In A Predicament. Where Have All The Employees Gone?

The British Business Association (BBC) surveyed 7300 manufacturing and service companies.

The results show that although these two industries are continuing to grow, they are facing difficulties in recruiting difficulties.

According to the report, 74% of the manufacturing companies are hard to find the right employees, and the service industry is facing 58% of the same difficulties.

BCC economic director Suren Thiru said in a statement that although the situation is still good, the two big areas will experience enormous difficulties in supporting the sustained growth in the medium to long term.

Thiru said that the service industry continued to rebound from the shock of the European referendum, but its growth has not yet risen to the level of history, and it is still the main driving force of the British economy.

Thiru continued to say that the export sales of the manufacturing industry declined as the pound fell.

The prospects for improvement have reached the highest level in recent years.

If we want to maintain growth for a long time, we must take action.

Thiru also said inflation is a major risk in the UK's economic future.

Enterprises must deal with rising costs and the pressure on their products.

If soaring inflation reduces consumer spending on schedule, the current strong business activity may not be enough to avoid slowing economic growth.

British Prime Minister Teresa is preparing to lead Britain into the so-called "

"It is to withdraw from a single market in return for full control of immigration.

But if the British government strongly restricts EU immigration, some of the most important industries for the British economy will be hit by a shortage of workers.

and

It will also be damaged due to shortages or rising prices.

Most of the employees, especially the low skilled workers, are dependent on the European Union immigrants in the service sector that contributes more than 80% of GDP in the UK.

At the same time, the process of Britain's withdrawal from the EU will last for at least two years, and there will be many uncertainties about the final agreement.

For enterprises, we must be prepared to meet everything that may happen in the future.

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At the end of March, the United Kingdom launched the "off Europe" process. Although no substantial changes have taken place in the relationship with the European Union, the fundamentals of financial markets and economies have not been significantly affected. However, the latest data show that the real income of the British has shown the smallest increase in two years, almost falling into zero growth due to the rapid inflation and the depreciation of the pound.

The impact of "off Europe" on the British economy began to emerge.

According to the data released by the National Bureau of statistics in April 12th, the actual wage growth in the UK dropped to its lowest level since 2014 as of February this year, indicating that the momentum of sustained growth in income has been lost for two years.

Data show that the British weekly salary increased by 2.3% compared with the previous year, excluding inflation, it increased by only 0.2%.

David Freeman, Senior Statistician of the National Bureau of statistics, said higher inflation and slower income growth meant that the real income growth of the British had narrowed to near zero growth.

From the development trend, the growth rate of wage level is hard to catch up with the rising inflation rate, and the direct push of this rapid inflation is the referendum of "off Europe" in June last year.

In 2015, inflation in Britain was close to zero.

But since the referendum of "off Europe" in mid 2016, inflation in Britain has increased rapidly.

According to the statistics released by the National Bureau of statistics in March 21st this year, consumer prices in the UK rose 2.3% in February compared with the 2% inflation target set by the central bank in the first three years.

The increase was the highest since September 2013 and exceeded economists' expectations.

Inflation, which has just been announced in March, has continued this trend, with inflation rate unchanged from February.

The National Bureau of Statistics says rising food and fuel prices are the main factors contributing to the inflation rate reaching a new high of nearly three and a half years.

Since the referendum of Britain's "off Europe" last year, the pound has depreciated by more than 15%, leading to higher import prices and higher overall prices.

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