It may well be possible for these trends to go further yet, but a wide array of business enterprises the Bank talks to have been saying for some time that it is harder and more costly to find appropriate staff, and that the factor most constraining further expansion is not insufficient demand, but insufficient capacity, either of labour or capital or both.
Approaching full employment is, of course, something to be welcomed. It is a goal of macroeconomic policy. If full employment is a ‘problem’, it is the one you would rather have than the problem of chronic unemployment.