How much will your wage package increase this year?

Smart Money: businesses report a tightness in the jobs market not seen for years

Ibec estimates that 60,000 additional employees could be needed across the economy each year to 2025, which gives  employees significant power in the jobs market. Photograph: iStock

Ibec estimates that 60,000 additional employees could be needed across the economy each year to 2025, which gives employees significant power in the jobs market. Photograph: iStock

Wages are on the rise. Is this a general rise in wages across the economy, or something applying only to certain sectors? And is it a temporary jump caused by Covid-19 factors or something more permanent?

Of all the questions relating to inflation, this is probably the most important. If people start to expect wage hikes and rising prices, it makes it more likely that inflation is here to stay. But what does the evidence show us about the market today and how wages are rising ?

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