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The U.K. labor market remains very tight because of various economic shocks that have negatively affected labor supply. The economy has faced the economic and health shock of COVID-19, Brexit’s immigration-shrinking policies, and an aging workforce. Consequently, the gap between labor demand and supply has narrowed substantially over the last decade. As that gap shrunk and the labor market tightened, employers have found it increasingly difficult to find and hire skilled workers.
Data from the U.K.’s Employer Skills Survey shows that the number of companies with at least one hard-to-fill vacancy – those where employers report difficulties filling the role