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The labor market in the UK, 2000–2019

Author

Listed:
  • Benedikt Herz

    (European Commission, Belgium)

  • Thijs Van Rens

    (University of Warwick, UK, and IZA, Germany)

Abstract

Experiences during the Great Recession support the view that the UK labor market is relatively flexible. Unemployment rose less and recovered faster than in most other European economies. However, this success has been accompanied by a stagnation of productivity and wages; an open question is whether this represents a cyclical phenomenon or a structural problem. In addition, the effects of the planned exit of the UK from the EU (Brexit), which is quite possibly the greatest current threat to the stability of the UK labor market, are not yet visible in labor market statistics.

Suggested Citation

  • Benedikt Herz & Thijs Van Rens, 2020. "The labor market in the UK, 2000–2019," IZA World of Labor, Institute of Labor Economics (IZA), pages 422-422, February.
    • Handle: RePEc:iza:izawol:journl:2020:n:422
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    References listed on IDEAS

    as
    1. Barbara Petrongolo, 2014. "Tackling long-term unemployment," CentrePiece - The magazine for economic performance 416, Centre for Economic Performance, LSE.
    2. repec:cep:cepcnp:cep416 is not listed on IDEAS
    3. Gregg, Paul & Wadsworth, Jonathan (ed.), 2011. "The Labour Market in Winter: The State of Working Britain," OUP Catalogue, Oxford University Press, number 9780199587377, Decembrie.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. van Rens, Thijs, 2019. "Is Declining Union Membership Contributing to Low Wages Growth? Discussion," MPRA Paper 95413, University Library of Munich, Germany.
    2. Brian Bell & Nicholas Bloom & Jack Blundell, 2021. "This time is not so different: income dynamics during the Covid-19 recession," POID Working Papers 012, Centre for Economic Performance, LSE.
    3. Robert A Hart, 2022. "Labour productivity during the Great Depression and the Great Recession in UK engineering and metal manufacture [The Productivity Puzzle: a Firm-level Investigation into Employment Behaviour and Re," Oxford Economic Papers, Oxford University Press, vol. 74(2), pages 431-452.

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    More about this item

    Keywords

    unemployment; productivity; UK; Brexit;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • J2 - Labor and Demographic Economics - - Demand and Supply of Labor

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