In explaining the UK’s ‘productivity puzzle’ – the conundrum of a dismal GDP performance combined with strong employment growth – one possibility is that the GDP figures are understating the actual level of output. But another potential answer that has received less attention is that the labour market data are overstating the true level of employment.
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