Home / The labour market - speech by Michael Saunders

The labour market - speech by Michael Saunders

Speech given at the Resolution Foundation, London.
Published on 13 January 2017

The jobless rate is down to 4.8% and the number of vacancies is around a record high, but pay growth has repeatedly undershot forecasts, with little sign of significantly higher growth in 2017.

In this talk, Michael examines the labour market, and in particular why the response of wage growth to falling unemployment has been limited.

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Michael Saunder's biography

Michael Saunders

Member of the Monetary Policy Committee

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