Bloomberg:
How low UK unemployment masked holes exposed by pandemic
6 April 2020
Professor Stephen Machin, director of CEP, helps explain how many workers are more vulnerable to the economic fallout from the coronavirus than the record-high employment figures suggest.
"The last 12 years have been characterized by record numbers in jobs, but there are these other dimensions, like very very weak real wage growth," said Stephen Machin, director of the London School of Economics Centre for Economic Performance. "It seems like people in sectors involved with furloughing or even in less secure positions are going to be in serious trouble."