Will the labor shortage translate into higher wages?
Economic theory would like this to be the case.
To attract employees where they are lacking, positions (or sectors) must be made more attractive.
And this means in particular better remuneration.
Employees, for their part, find themselves in a position of strength in negotiations because they are more in demand.
It is the law of supply and demand.
But things are, at the moment, nowhere near that simple.
And economic theory must confront the reality which today does not allow us to assert that wages will experience a general increase in the weeks or months to come.
There are at least three reasons for this.
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First, the lack of manpower in certain sectors can certainly come up against a lack of candidates, but also a lack of skills.
In other words, there is a mismatch between job seekers and the nature of the jobs to be filled.
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