- June 29, 2021
- Posted by: Stratford Team
- Category: Business
- The labor shortage is uneven, leaving some industries more likely to raise wages than others.
- The hotel, restaurants, and leisure sector is most likely to raise pay, Morgan Stanley said Monday.
- Independent power and renewable electricity businesses are the least likely to hike wages, the bank added.
- See more stories on Insider’s business page.
Like many aspects of the US recovery, the labor shortage is uneven.
Where some industries were able to quickly shift to telework and retain most employees through the pandemic, others are struggling to rehire. Job openings sit at a record-high 9.3 million, but hiring lagged economist forecasts for two months straight while quits reached all-time highs.
Several businesses have already raised wages in a bid to attract more workers than the competition. Yet…