Recovery in labour market yet to translate to wage rises and improved productivity
Authors: Ian Brinkley
22 January 2014
Commenting on today's labour market statistics, Ian Brinkley, chief economist at The Work Foundation, said:
“Today’s numbers show our labour market recovery gathering pace. Employment is growing strongly and unemployment is falling for all age groups. But living standards have not improved. Wage growth continues to lag behind inflation, and productivity is falling in both the manufacturing and service industries. Although the labour market recovery is welcome news, we urgently need to see this translate into rising wages and productivity.”
Ian Brinkley, chief economist, and Charles Levy, senior economist, are available for interviews, briefings and written comment.
The Work Foundation aims to be the leading independent, international authority on work and its future, influencing policy and practice for the benefit of society. The Work Foundation is part of Lancaster University – an alliance that enables both organisations to further enhance their impact.
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