Labour market
Paper looks at impact of financial shocks on US labour markets
Negative shocks have far bigger effects than positive ones, researchers find
BoE’s latest big data project targets labour mismatches
Eliminating regional mismatch could have prevented productivity shortfall, researchers find
NY Fed paper: ‘replacement hiring’ affects productivity wage gap
Replacement hiring can explain much of the gap between wages and productivity, authors say
BoE should not ‘dally’ with next monetary policy move – McCafferty
In his last scheduled speech, the MPC member says a delay could force the central bank into a more “aggressive tightening”
BoE’s chief economist joins minority in calling for rate rise
Monetary policy committee lowers threshold for reducing debt holdings
Trump appears to pre-signal strong jobs data
US jobs report shows large increase in jobs and further drop in unemployment
Strike halts Australian banknote production
Unions reject 2% offer and point to governor’s call for higher wage increases
Technology is threatening living standards of low-skilled workers - Dallas Fed president
Millions of US workers are “having a hard time”, Kaplan says
Sovereign debt crisis caused European firms to cut wages – DNB paper
Researchers say credit stress causes firms to reduce variable parts of wages
Swedish paper examines effects of business cycles on employment
Volatile business cycles cut the number of new jobs and employment, Riksbank paper says; analysis uses labour market search model to track effects
Few US low-wage workers progress in labour market – Fed research
Only 5% had a better job within one year, and the group is more likely to become unemployed
More older people and women joining labour force, RBNZ paper finds
New Zealand’s labour force participation has grown since 2000 and reached an all-time high in 2017
US labour participation rate down more than OECD average – Dallas Fed
Higher incarceration rates and worse social services may partly explain trend
IMF analyses demographic and technological changes affecting productivity
IMF researchers say right policy choices can offset the negative impacts of technological and demographic changes
Central banks should personalise communications – BoE’s Haldane
Explaining how monetary policy affects the lives of everyday people could help bridge trust gap, the BoE’s chief economist says; calls for monetary policy ‘scorecards’
Fed’s Powell emphasises ‘patient’ approach to policy
Fed chair acknowledges very low unemployment has been accompanied by other signs that the labour market may be operating below potential
Israel’s Flug calls for higher-quality labour market
Bank of Israel governor says country is close to full employment but must do more to improve labour market conditions
BoE on track for May rate hike
MPC votes 7-2 in favour of maintaining rates at 0.5% but leaves the door open for two potential rate hikes in 2018
Powell strikes cautiously upbeat note in first policy press conference
Federal Open Market Committee shifts economic forecasts up marginally
Denmark is entering a boom – central bank
The Nordic country is benefiting from the growth in export markets, including the US and eurozone
UK figures reveal 1.47 million people out of work
While the employment rate has continued to rise, the rate of unemployment has increased by the sharpest level in almost five years
Brexit ‘surprises’ could delay rate hikes, IMF says
If negotiations affect wage growth or “depress demand”, the BoE could make monetary policy more expansionary, staff say
World does not have to be ‘hostage’ to technology – Wilkins
Finding a way to control the market power of tech giants will be important, the Bank of Canada deputy says
Standard measures understate slack in European labour markets – ECB paper
Researchers use survey data from 24 countries to track effects of sovereign debt crisis