a post by Hannah Slaughter for the Resolution Foundation blog
We’re starting to see signs that the slowing economy may now be feeding through to the labour market. Even as GDP growth has faltered in recent months, and with Brexit uncertainty ramped up and productivity stagnant, the labour market had remained strong. The employment rate had reached a record high, with pay growth improving.
And at first glance, the headline statistics out today [12 November 2019] show a strong labour market continuing to defy economic uncertainty, with employment remaining high and unemployment and inactivity rates stable. But there are signs that the jobs market is catching up with the wider economic trends. Today’s data shows the highest quarterly fall in employment since May 2015. Jobs growth is tailing off, and pay growth is weakening.
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Showing posts with label GDP_growth. Show all posts
Showing posts with label GDP_growth. Show all posts
Friday, 15 November 2019
Wednesday, 6 February 2019
Beyond Okun's law: Introducing labour market flows
a column by Guay Lim, Robert Dixon and Jan van Ours for VOX: CEPR’s Policy Portal
One version of Okun’s law specifies a relationship between the change in the unemployment rate and output growth.
This column uses US labour market flows data to investigate this relationship between 1990 and 2017. It finds that the net flows between employment and unemployment are sensitive to changes in growth but respond differently to positive and negative changes.
This implies that the US Okun relationship is stable but asymmetric, the effect of a change being larger in contractionary periods than in expansionary ones.
Continue reading
One version of Okun’s law specifies a relationship between the change in the unemployment rate and output growth.
This column uses US labour market flows data to investigate this relationship between 1990 and 2017. It finds that the net flows between employment and unemployment are sensitive to changes in growth but respond differently to positive and negative changes.
This implies that the US Okun relationship is stable but asymmetric, the effect of a change being larger in contractionary periods than in expansionary ones.
Continue reading
Friday, 12 April 2013
Eight Prime Ministers and the Economy
via ToUChstone blog: A public policy blog from the TUC by Richard Exell
For obvious reasons there’s been a lot of interest recently in the performance of different Prime Ministers, so I thought I’d have a look at how they compared on some key economic indicators.
In the past fifty years eight people have become Prime Minister: Harold Wilson, Ted Heath, Harold Wilson again, Jim Callaghan, Margaret Thatcher, John Major, Tony Blair, Gordon Brown and David Cameron.
Continue reading And once again the TUC has come up with some interesting comparisons. I wish, however, that the charts has taken into consideration the period of time that each of those people was in office.
For obvious reasons there’s been a lot of interest recently in the performance of different Prime Ministers, so I thought I’d have a look at how they compared on some key economic indicators.
In the past fifty years eight people have become Prime Minister: Harold Wilson, Ted Heath, Harold Wilson again, Jim Callaghan, Margaret Thatcher, John Major, Tony Blair, Gordon Brown and David Cameron.
Continue reading And once again the TUC has come up with some interesting comparisons. I wish, however, that the charts has taken into consideration the period of time that each of those people was in office.
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