Today’s FT is full of news about how labour shortages are hitting the economy in numerous ways as a result of multiple market failures [£] which includes the pandemic, the pingdemic, market failure but obviously, we can’t add brexit to that list because UK newspapers don’t.
Supply-chains are suffering [£] – everything from the things we’re hearing about (no McFlurrys, empty shelves at Sainbury’s, temporary Nando’s closures etc, though to more serious worries around semiconductor shortages that can throttle manufacture of a widerange of manufactured goods (cars, domestic appliances etc).
Other stock-level shortages are combining to make manufacturers struggle to meet the resurgent demand (traditionally, like rising wages caused by labour-shortages, a worrying harbinger of inflation.
There’s a very good thread here from Sarah O’Connor (not the mum in Terminator – the FT columnist) on the perfect storm that has hit truck drivers (that includes IR35) here – well worth a read for people looking at the labour market of all sectors of the economy – particularly freelance sectors:
So, why is there a shortage of truck drivers? It's complicated, so this will be a little thread. Full column here https://t.co/bKElQXPmTX First up, the hours are really long and unpredictable. Here's a current job ad: pic.twitter.com/DZxfK0F6lC
— Sarah O'Connor (@sarahoconnor_) August 24, 2021
Pigs will be pleased – they aren’t getting slaughtered at the planned rate [£]) while also “boosting worker’s clout [£]” (though it doesn’t seem to be able to find any examples of organised labour mobilising around this).