Falling real wages in the UK

David Blanchflower, Stephen Machin, 12 May 2014

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There have been unprecedented falls in real wages in the UK since the start of the recession triggered by the financial crisis of 2008. This did not happen in previous economic downturns – median real wage growth slowed down or stalled, but it did not fall.

Topics: Labour markets, Poverty and income inequality
Tags: Great Recession, Inequality, real wages, UK, unemployment, US, wages

The real wage–productivity nexus

Jennifer L. Castle, David F. Hendry, 13 January 2014

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The Great Recession has produced falling real wages (Elsby et al. 2013). There has not been the ‘usual’ unemployment reaction. As such, it may seem that the wage inflation/unemployment trade-off has shifted. Our recent work suggests otherwise (Castle and Hendry 2013).

Topics: Labour markets, Productivity and Innovation
Tags: productivity, real wages, wage inflation