State of the Nation: Labour shortages pushing up prices and wages

SCDI’s latest State of the Nation briefing for September brings together all of the latest data, forecasts and analysis on the Scottish economy in one place, so you don’t have to.

Key points

  • Interest rates remain 0.1% – record low
  • Inflation falls back to 2% – but Bank of England warns could surge to 4%
  • New research suggests workers who relocate to a large industry cluster can become up to 14% more productive 
  • Scotland’s economy now 2.1% smaller than before pandemic
  • 1 in 4 businesses in Scotland took on government-backed debt during COVID-19 crisis
  • Over 1 million job vacancies in UK – new record
  • Almost 2 million people still furloughed
  • Wages increased by 7.4% over last quarter as labour shortages hit employers hard

Download the briefing below, which is published in partnership with DailyBusiness.


State of the Nation / September


State of the Nation / August


State of the Nation / July