BoE’s Weale sees shorter working week adding to inflation
UK workers look likely to cut back hours, raising unit labour costs
Since 1860, British workers have cut back on their hours worked, as their wages have climbed, and this effect is likely to add to inflationary pressure in the coming years, according to one of the Bank of England's (BoE) external monetary policy committee (MPC) members, Martin Weale.
In a speech to business leaders on January 21, he pointed to three signs that UK workers are likely to cut their average weekly hours over the coming years, which Weale believes will put upward pressure on unit
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