The economy has so far suffered a smaller setback than expected from Russia’s invasion of Ukraine but businesses face the steepest price rises since at least 1999, according to a key survey.

Employers are feeling the impact of skills shortage in poor staff wellbeing, increased workload and decreased profitability

According to The Open University’s Business Barometer 2022 report, published in partnership with the British Chambers of Commerce, UK organisations are experiencing the knock-on effect of ongoing skills shortages and recruitment challenges, as more than three quarters report seeing reduced output, profitability or growth.

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