Bloomberg reports that according to the report from the Recruitment & Employment Confederation and KPMG, U.K. wage growth rose at its strongest pace on record in a survey of job recruiters, indicating strains from a shortage of workers are persisting.

The REC survey will add to inflationary pressures that are already ringing alarm bells at the Bank of England. Data also indicates difficulty moving people off of furlough and into work following the pandemic.

Starting salaries for permanent workers rose at the strongest pace in 24 years of data collection in September. At the same time, the pool of available workers fell at near the sharpest rate on record. 

“While higher salaries are good for job seekers, wage growth alone is unlikely to help sustain the economic recovery,” said Claire Warnes, head of education, skills and productivity at KPMG. “Many do not have the right skills to transfer to the sectors with most demand.”