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Economic Outlook 1991–1995: London Business School with Gower Publishing: Forecast Release: A NEW ERA FOR UK EARNINGS?
Author(s) -
Burrell Andrew
Publication year - 1992
Publication title -
economic outlook
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.1
H-Index - 8
eISSN - 1468-0319
pISSN - 0140-489X
DOI - 10.1111/j.1468-0319.1992.tb00269.x
Subject(s) - economics , inflation (cosmology) , earnings , publishing , deflation , bidding , point (geometry) , wage , government (linguistics) , product (mathematics) , labour economics , macroeconomics , monetary policy , finance , political science , law , microeconomics , linguistics , philosophy , physics , geometry , mathematics , theoretical physics
Wage growth has been one of the few economic indicators moving in the right direction for the government in recent months. Critics would point to the influence of an extra 1 million jobless in bidding down pay awards but it is clear that the present deflation has been more effective than in the early 1980s. Nevertheless, it is too early to celebrate the transition to European inflation rates. The present situation is not irreversible and to a large extent has been the product of unusual circumstances. Full adjustment could be a longer and more difficult process.