A tale of two labour markets: the UK and US - speech by Kristin Forbes

Speech given at the Henry Jackson Society, London on 26 January 2016.
Published on 25 January 2016

Tomorrow, in a speech to the Henry Jackson Society in Parliament, external MPC member Kristin Forbes will explore the similarities and differences between the US and UK Labour markets and what the implications of these may be for policy. Kristin concludes that ‘a close look at the UK and US labour markets suggest that they are stronger and tighter than the most popular headline wage figures suggest’ and as these markets return to normality ‘momentum in wages and unit labour cost growth should accelerate in both economies’. However, Kristin adds, in the UK ‘wages and labour costs have not yet gained enough momentum to be consistent with inflation reaching our 2% target.’

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