The Debrief:
New report suggests there's bad news on the horizon for the UK job market
15 May 2017
David Blanchflower, a former Bank of England policymaker and a London School of Economics professor, is saying that wages are likely to remain low for several years. He’s particularly critical of how the Bank of England is handling the situation, as their forecasting for wage growth consistently expects it to revert to around 4% within 18 months which, at least for the last 10 forecasts, just hasn’t happened.
Related publications
‘The Return of Falling Real Wages’, David Blanchflower, Rui Costa and Stephen Machin, Real Wages Update blog No.6, May 2017