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What do comparisons of the last two economic recoveries tell us about the UK labour market?
- Article from:
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National Institute Economic Review
- Article date:
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May 1, 1996
- Author:
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Copyright informationCOPYRIGHT 1996 National Institute of Economic and Social Research. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The UK labor market is showing signs of improved performance as the economy recovers from the recession which started in the early 1990s. In fact, figures indicate a far better performance of the labor market in the post-1990 recessionary period compared to its recovery following the 1980 recession. The better performance can be attributed to increased flexibility in the labor market, the changing age structure of the labor force and reduced bias in the regional labor markets.
There are signs that the UK labour market has behaved differently in the most recent economic recovery. After the end of the recession in 1992 unemployment began to fall much earlier than expected, whilst wage and ...