Changes in output, employment and wages during recessions in the United Kingdom

Quarterly Bulletin 2010 Q1
Published on 15 March 2010

By Renato Faccini and Christopher Hackworth of the Bank's Structural Economic Analysis Division.

Employment has fallen during this recession but by much less than the fall in output. This article examines how the behaviour of the labour market compares with previous recessions. A number of factors, including greater flexibility in real wages, may have helped to mitigate the fall in employment to date. But there is considerable uncertainty about how the labour market will evolve.

PDF Changes in output, employment and wages during recessions in the United Kingdom 

Was this page useful?
Add your details...