Has stagnation caught up with the labour market?
I have a post over at Left Foot Forward, looking at yersterday’s labour market statistics. For over a year economists have been trying to understand why the employment figures have been moving in the right direction when GDP has been stagnating. This month’s figures show unemployment rising a little, youth unemployment rising a lot and pay stuck in the doldrums. It’s too early to say definitely that the latest figures are more than a blip, but many economists expect unemployment to start rising again.