UNDEREMPLOYMENT AND THE LACK OF WAGE PRESSURE IN THE UK

In this note, we focus on underemployment as a potential cause of lower wage growth, which itself may have deeper causes, but which has, we would argue, demonstrably changed since the 2008 recession. The gap between our measures of the number of additional hours required by those who want more hours...

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Bibliographic Details
Published in:National Institute economic review 2018-02, Vol.243 (243), p.R53-R61
Main Authors: Bell, David N.F., Blanchflower, David G.
Format: Article
Language:English
Subjects:
Analysis
Forecasts and trends
Heuristic
NOTES AND CONTRIBUTIONS
Recessions
Underemployment
Unemployment
United Kingdom
Wages & salaries
Wages and salaries
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Summary:In this note, we focus on underemployment as a potential cause of lower wage growth, which itself may have deeper causes, but which has, we would argue, demonstrably changed since the 2008 recession. The gap between our measures of the number of additional hours required by those who want more hours and the number who want less has narrowed recently. Neither have returned to their pre-recession levels. In our view, underemployment remains a major factor in explaining the 2 per cent wage norm that continues to exist in the UK.
ISSN:0027-9501
1741-3036
DOI:10.1177/002795011824300114