Skip to main content

CEP election analysis

The labour market


The UK labour market, at first glance, seems to be playing at Dr Jekyll and Mr Hyde. Employment (in terms of both levels and rates) is at record highs, yet wage growth has been extraordinarily weak. One view is that these are opposite sides of the same coin. Another, more nuanced standpoint is that record employment is hiding a number of serious concerns about the changing composition of work as poor quality jobs, often with little employment protection, have permeated the labour market.


Rui Costa and Stephen Machin

21 November 2019     Paper Number CEPEA046

Download PDF - The labour market