Business owners have warned of inflationary pressures
Construction firms will raise their wages eight times quicker than other industries, a report has revealed, as per The Times.
Acute labour shortages mean employers face little choice but to offer improved rates.
Research by Indeed, the online jobs board, shows that advertised salaries are up by 6.7% over the last five months.
Wages across other sectors have risen by 0.8% over the same period.
The issue is pronounced in sectors which previously saw high employment among people from European Union nations, many of whom returned to their home countries since the pandemic.
Firms that generally employ young people are also struggling, as many are now opting to remain in education.
Bosses at restaurants across the UK have warned that prices on menus will increase in the following months as businesses raise wages in response to the staffing crisis.
Pub and restaurant wages, which have generally been low, are now on the rise.
While staff are unsurprisingly happy, small business owners, who may struggle to handle the increase, may be concerned about rising costs.
David Moore, owner or Fitzrovia’s Michelin-starred Pied à Terre said: “This [wage rise] has to be passed on with price increases, no business can absorb that kind of increase without passing it on.”