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Abstract:

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CEP election analysis
The Labour Market
Rui Costa and Stephen Machin
November 2019
Paper No' CEPEA046:
Full Paper (pdf)

Tags: employment; jobs; labour; productivity; unemployment; wages; 2019 general election

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.

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