After Omicron, UK employers turn confidence in the economy, according to REC

After Omicron, UK employers turn confidence in the economy, according to REC ...

LONDON, February 23 - British employers are becoming more confident about the country's economy as it recovers from the Omicron surge of coronavirus infections, according to a survey on Wednesday.

The Economic Cooperation Committee (REC) said confidence in the economy increased 6 points to a net level of -5 in the three months to January, putting it at +1 in January alone.

REC said the move suggests strong economic expectations for 2022 due to the prospect of increased inflation and labor shortages.

Despite a boost in demand for temporary workers than for permanent workers, employment intentions in the near term increased by 4 points to +24, indicating that businesses remain prudent.

According to Neil Carberry, the REC's chief executive, businesses should make an effort to attract applicants from a wide spectrum of backgrounds.

"We know that more workers are demanding it," Carberry said. "But other benefits, conditions, and development opportunities are also crucial components of a successful person strategy."

The Bank of England has expressed concern about a lack of candidates available to fill a record high of positions, which it believes could result in long-term inflation pressure.

Before British Prime Minister Boris Johnson announced this week that all coronavirus restrictions would be eliminated, REC's survey of 600 employers took place between November 5 and January 26, 2017.

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