As a result, the share of companies in the euro area reporting labour as a factor limiting production is now higher than ever before (Slide 10, right-hand side). Such a tight labour market at a time when firms are still adding jobs at a considerable pace is usually a good predictor of strong future wage growth.
Ladies and Gentlemen, I would also like to extend my appreciation to the colleagues leading the project from the Narodowy Bank Polski (NBP) – an institution at the very top of the league of central banks. Thanks to them the Bank of Lithuania has become more actively involved in technical assistance projects.