BoE Governor Andrew Bailey may be on to something:

"The main pressure is external... but we've got another thing going on that is domestic: the size of the labour force has shrunk... The first thing that every firm wants to talk to me about is 'I can't hire enough people'." ~AA pic.twitter.com/YigGi7AFz7

— Best for Britain (@BestForBritain) August 4, 2022