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Employment in the 2008–2009 recession

Author

Listed:
  • Paul Gregg

    (University of Bristol)

  • Jonathan Wadsworth

    (Royal Holloway, University of London)

Abstract

SUMMARYAfter some 15 years of near continuous job growth, the employment rate in the UK in 2008 stood at around 75 per cent of the working age population, a level which was broadly in line with previous employment peaks observed in 1989, 1978 or 1968. In 2005, the (ILO-based) unemployment rate fell below 5 per cent for the first time since the 1970s. Since then, the UK has experienced the worst recession since World War 2 in terms of output lost and the full effects of this on the labour market may not have yet been felt. However the impact on the labour market so far has been rather surprising given the patterns observed both in previous recessions and the contemporaneous experience of other industrialised countries. This article aims to chart the performance of the labour market through the recession and to explain the surprising patterns that have emerged. It also tries to assess the prospects for the next few years.

Suggested Citation

  • Paul Gregg & Jonathan Wadsworth, 2010. "Employment in the 2008–2009 recession," Economic & Labour Market Review, Palgrave Macmillan;Office for National Statistics, vol. 4(8), pages 37-43, August.
    • Handle: RePEc:pal:ecolmr:v:4:y:2010:i:8:p:37-43
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    Cited by:

    1. Marianne Sensier & Michael Artis, 2016. "The Resilience of Employment in Wales: Through Recession and into Recovery," Regional Studies, Taylor & Francis Journals, vol. 50(4), pages 586-599, April.
    2. Thomas F. Crossley & Hamish Low & Cormac O'Dea, 2013. "Household Consumption through Recent Recessions," Fiscal Studies, Institute for Fiscal Studies, vol. 34(2), pages 203-229, June.
    3. Sensier, Marianne & Devine, Fiona, 2020. "Understanding Regional Economic Performance And Resilience In The Uk: Trends Since The Global Financial Crisis," National Institute Economic Review, National Institute of Economic and Social Research, vol. 253, pages 18-28, August.
    4. Marianne Sensier & Michael Artis, 2016. "The Resilience of UK Regional Employment Cycles," Centre for Growth and Business Cycle Research Discussion Paper Series 229, Economics, The University of Manchester.

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