Wages, Productivity and the Changing Composition of the UK Workforce

11 Pages Posted: 8 Apr 2016

See all articles by Will Abel

Will Abel

Bank of England - Structural Economic Analysis Division

Reecca Burnham

Bank of England

Matthew Corder

Bank of England

Date Written: March 18, 2016

Abstract

Over the past 30 years the composition of UK employment has changed substantially - these changes have important implications for wage and productivity growth. These ‘compositional effects’ can be more prominent during times of increased labour market change and may have dragged down on wages over the past two years. The drag from compositional effects is likely to fade as the labour market normalises, pushing up on both productivity and wage growth.

Suggested Citation

Abel, Will and Burnham, Reecca and Corder, Matthew, Wages, Productivity and the Changing Composition of the UK Workforce (March 18, 2016). Bank of England Quarterly Bulletin 2016 Q1. Available at SSRN: https://ssrn.com/abstract=2759723 or http://dx.doi.org/10.2139/ssrn.2759723

Will Abel (Contact Author)

Bank of England - Structural Economic Analysis Division ( email )

Threadneedle Street
London, EC2R 8AH
United Kingdom

Reecca Burnham

Bank of England ( email )

Threadneedle Street
London, EC2R 8AH
United Kingdom

Matthew Corder

Bank of England ( email )

Threadneedle Street
London, EC2R 8AH
United Kingdom

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