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Two puzzles: recent UK labour market dynamics − speech by Megan Greene
Many thanks for hosting me at Make UK. Given the interests of this group and the challenges I’m told some of you have faced with recruitment, I thought I would spend some time taking a deep-dive into recent UK labour market developments. Over the last 2-3 years, we have seen a historically tight labour market, driven by recruitment difficulties as the pandemic likely caused structural shifts. I aim to focus on two puzzles that have been a feature of this period. First, unemployment has remained at historically low levels despite subdued economic growth. And second, wages have remained high amid an easing labour ... (full story)
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BANK OF ENGLAND'S GREENE SAYS INFLATION PERSISTENCE HAS WANED SINCE I JOINED THE MPC LAST JULY
— RedboxGlobal (@RedboxWire) May 16, 2024
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BOE’S GREENE: I THINK THE BURDEN OF PROOF NEEDS TO LIE IN INFLATION PERSISTENCE CONTINUING TO WANE.
— FinancialJuice (@financialjuice) May 16, 2024
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BOE’S GREENE: DATA RELEASED AHEAD OF OUR NEXT MEETING WILL GIVE A CLEARER INDICATION OF HOW FAR ALONG THE LAST MILE WE HAVE COME.
— FinancialJuice (@financialjuice) May 16, 2024
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BOE’S GREENE: WHILE I THINK EXCESS LABOUR HOARDING HAS FADED FROM ITS PEAK, IT STILL POSES A TWO-SIDED RISK TO OUR OUTLOOK.
— FinancialJuice (@financialjuice) May 16, 2024