Recent headline employment gains mask a deterioration in underlying labour market conditions. If, as we fear, the economy continues to struggle in response to the worsening oil price slump, then growing labour market slack will add to the downward pressure on core inflation.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services