02 September 2010
Philip Booth on a 'jobless recovery'
Philip Booth argues that economic output might well recover without a fall in unemployment occurring until some time afterwards. Although in the early 1990s, deregulation of labour markets meant that a fall in unemployment took place soon after output recovered at the end of the recession, the situation is different now. Increased labour market regulation and the minimum wage may prevent unemployment falling rapidly as output recovers - though at least trade union power is not the same threat to employment as it was in the early 1980s.
The video is 6 minutes long: Cass Talks Episode three
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