Feature article Could unemployment go back to the post-war heyday?

摘要

The current 'low' rate of unemployment looks less impressive when compared with the 2-3% rates averaged in the 1950s and 1960s. But both then and now share a common driver of low joblessness - pay growth falling unusually short of productivity gains. While the chances of this continuing look stretching, a return to genuine full employment is not completely implausible.