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Finding People to Fill Jobs in Britain Is Getting Harder: Chart

For Bank of England officials looking for incipient inflationary pressures in the labor market, here’s one piece of evidence. There are now just two unemployed people (2.2 to be precise) for every job that needs filling, levels not seen since before the financial crisis. “Over a longer time-frame, the ratio is close to historical lows, on a par with its level in 2001, 2004 and late 2007,” the Office for National Statistics said. “This indicates that there is less spare capacity in the labor market to meet rising demand for employees.”

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