I'm not sure you've read the article thoroughly. It's talking about an exodus from the workforce, not the UK. And the article is bemoaning its impact of raising wages as employers are forced to compete for scarce labour - not exactly a disaster for working people.
I don’t see how raising interest rates will solve this issue. If the problem is that a shortage of workers means that workers have more power to demand higher wages then surely making life more expensive for people is just going to force workers to demand yet higher wages.
Snapshot of UK workforce exodus could force BoE to raise interest rates, says chief economist | Interest rates :
So, still using demand side remedies for supply side problems. Brilliant.
What supply side policies should the bank use in your opinion?
Maybe the highest tax rate in UK history has something to do with it.
Why is there an exodus? Why would anyone want to leave minimum wage, super expensive, tory Britain?
I'm not sure you've read the article thoroughly. It's talking about an exodus from the workforce, not the UK. And the article is bemoaning its impact of raising wages as employers are forced to compete for scarce labour - not exactly a disaster for working people.
It’s not the minimum wage workers that are leaving it’s very well paid professionals.
I don’t see how raising interest rates will solve this issue. If the problem is that a shortage of workers means that workers have more power to demand higher wages then surely making life more expensive for people is just going to force workers to demand yet higher wages.
The point is to make life harder for businesses so they don't try to hire people in the first place.
This post actually made me laugh.
So it's all the plebs fault?