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Bloomberg
UK private-sector workers are set for their biggest wage increase in at least seven years as companies struggle to fill vacancies.
The Chartered Institute of Personnel and Development said on Monday the expected median pay award has risen to 2.5 percent, the highest since it began the survey in 2012 and above the rate
of inflation.
Almost three quarters of employers questioned said they were finding it hard to recruit people.
The findings underscore the health of the UK labour market, with employment at record levels even though economic growth has slowed sharply since the summer amid fears that Britain could leave the European Union without a deal in place to cushion to blow.
One theory is that firms are choosing to hire staff rather than invest in machinery and equipment, as it would be easier to cut staffing levels in the event of a Brexit-induced downturn.