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UK workers must accept lower pay deals to help beat inflation, says Bank ratesetter (www.theguardian.com)

submitted 9 months ago by CAVOK@lemmy.world to c/europe@feddit.de

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[–] geissi@feddit.de 2 points 9 months ago

Depends.

IF only some companies increase wages then they can probably reduce turnover. Though that might cause more turnover in other companies that don't increase wages.
If wages rise through the board and the better paying companies before remain the better paying companies after then that probably has little effect.

I suppose higher overall wages could reduce the pressure to look for a better paying job because your current one doesn't cover costs of living.