Employers reckon this year is going to be a tough one, according to a survey of 320 members of the Australian Industry Group. About 40% of bosses reckon things will be worse than last year – and they also believe the Aussie economy could be heading for a slowdown similar to the 1970s when persistent inflation made everyone’s life difficult (and more expensive…). The AI Group’s CEO, Innes Willox, says, “industry expects to, at best, work through mediocre business conditions this year”. Staff shortages are still a big thing in most sectors, with 87% of industry leaders expecting to be scrambling for people. And in bad news for consumers, 57% of businesses plan to raise prices this year – mainly because their costs are increasing. What they will be investing in is tech and innovation to try to drive savings or find new markets.