
The UK is in an unusual situation. Unemployment is at a record low of 3.6%, the lowest since 1974, and according to a recent study by the Confederation of British Industry (CBI), three out of four businesses suffered from a shortage of staff last year. After all, if someone walks the streets, he will see that for several months now a sign “Employees Wanted” has been hanging everywhere on the windows. This traditional way, perhaps, shows the great need of the country, according to Deutsche Welle in their publication. With over 190,000 businesses represented, the CBI conference kicked off in Birmingham earlier in the week. Its head, Tony Dunker, urged the government to consider immigration as the most practical way to fill vacancies. According to him, the country’s leadership “should be honest with the world about the huge shortage of personnel.” And Mr. Dunker characteristically added: “We don’t have the people or the necessary productivity.”
They are calling for an easing of restrictions on the entry of migrants, which the Sunak government rejects.
But Prime Minister Rishi Sunak has greatly reduced the chances of such a scenario. In his speech at the conference, he called on businesses to “take advantage of the freedoms that Brexit gives them.” However, while he expressed a desire to “bring the best talent from around the world to the country,” he stressed that “his main commitment will remain to curb illegal immigration.” Business and government are clearly divided into two camps. On the one hand, the business sector believes that it no longer has free time, and on the other hand, the government wants to highlight the benefits of Brexit. As a compromise, businesses are asking for temporary work visas for certain jobs, as was done last year with truck drivers.
According to the Bank of England, unemployment will almost double by 2025 due to the recession the country is going through. Brexit supporters, most of whom are government representatives, believe that a potential wave of economic migration in the midst of a recession will further aggravate the situation, leaving the British no chance to get back on their feet. But finally, businesses see that the last fifteen years of low productivity and growth are also the real cause of today’s downturn.

Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.