It is a highly unusual set of circumstances. Many businesses cannot find workers, skilled or unskilled, even with hefty pay increases.
At 3.5 per cent, the unemployment rate reflects an overheated economy where, for all intents and purposes, everyone who wants a job has a job.
Businesses are under pressure, not because of an economic downturn or the effect of higher interest rates on their overdraft costs, but because they cannot find enough workers to open the doors each morning and then run the business to meet a strong level of demand from customers.
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