Over-50s leading a “great resignation” have shrunk the UK labour market and driven up inflation, the boss of John Lewis has said.
An exodus of around a million people from the workforce since the pandemic has led to an increase in inflation and wage growth, chairwoman Dame Sharon White told BBC Radio 4’s Today programme.
Fewer employees in work means businesses are facing pressure to raise salaries which in turn is pushing up prices. It is also having major long-term implications for businesses struggling to fill jobs, Dame Sharon added.
Despite inflation and wages going up, the John Lewis Partnership revealed it has no plans to raise employee wages in line with current rates….