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THE LABOUR MARKET UNDER ‘NEW LABOUR’: THE FIRST TWO TERMS
Author(s) -
Shackleton J. R.
Publication year - 2005
Publication title -
economic affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.24
H-Index - 18
eISSN - 1468-0270
pISSN - 0265-0665
DOI - 10.1111/j.1468-0270.2005.00564.x
Subject(s) - unemployment , economics , labour economics , government (linguistics) , market regulation , function (biology) , market economy , macroeconomics , linguistics , philosophy , evolutionary biology , biology
Since 1997, UK labour market regulation has increased significantly, and this trend seems likely to continue. Yet the UK's performance in terms of employment and unemployment has been broadly satisfactory. The author argues that there may have been offsetting factors in both government policy and the macroeconomic climate that have enabled the labour market to function adequately. However, he suggests that this favourable conjunction may not continue.