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- Title
Why has unemployment not risen more in the recession?
- Abstract
The article examines the leveling off of employment and unemployment in Great Britain in comparison with international experience and in relation to factors influencing the labor market. The differential changes between the U.S. and Great Britain is attributed to labor productivity. Cited are Spain and Ireland with bigger employment falls, while Germany has actually increased employment during the recession. The age dimension of employment is discussed along with labor market flexibility in reaction to pay freezes and pay cuts.
- Subjects
UNITED Kingdom; IRELAND; SPAIN; GERMANY; EMPLOYMENT; UNEMPLOYMENT; LABOR productivity; GLOBAL Financial Crisis, 2008-2009
- Publication
Economic Outlook, 2010, Vol 34, Issue 1, p5
- ISSN
0140-489X
- Publication type
Article
- DOI
10.1111/j.1468-0319.2010.00764.x