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In U.K. Election, It’s Jobs Boom vs. Stagnant Wages
Keywords:
Greg Ip provides useful insights into the nature of the economic recovery in Britain compared to the U.S. by 2015. The recovery in Britain has done better than in the U.S. in job creation, but has lagged behind in productivity gains. The labor force participation rate is 72% in Britain compared to 68% in the U.S., going back up to 2007 levels in Britain, whereas in the U.S. it has steadily declined with some older working class Americans too discouraged to look for work and left behind. Stagnant wage growth is a major issue in Britain, more so than in the U.S. where wage growth is slow. Economic austerity is not the main cause of the economic difficulties as the coalition government of prime minister Cameron relaxed earlier goals for austerity by 2012 with tax revenues and growth below forecasts. The structural budget deficit has been reduced by 6.6% of GDP since the peak, and the Office of Budget Responsibility estimates the UK economy was 1.5%-2% smaller by 2013 because of the austerity policies. Britain was also affected by the eurozone crisis to a larger degree than the U.S. Productivity remains a long term challenge- with needed investments in housing, education and infrastructure, improved lending for new business, and higher tech improvement exports.
Britain's Conservative Party 2014 annual conference
09/29/2014
With a prominent defection to the UKIP, British prime minister Cameron now faces the prospect in September 2014 of a split of the right wing vote between the UK Independence Party and the Conservatives, handing the Labor Party a win in the 2016 election. The economy is recovering but working class people in Britain say they are not seeing the benefits of the recovery.
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David Cameron Faces Pressure From All Directions Ahead of Party Conference
Wall Street Journal 09/29/2014
Britain’s Surprisingly Unpredictable Election
Wall Street Journal 04/26/2015
David Cameron Struggles to Turn Economic Recovery Into Votes
Wall Street Journal 05/06/2015
In U.K. Election, It’s Jobs Boom vs. Stagnant Wages
Wall Street Journal 05/07/2015
Theresa May, Long in Public Eye, Finds Herself Focus of Conservative Race
The New York Times 07/05/2016
‘Brexit’ Briefing: May and Leadsom Face Off to Become Prime Minister
The New York Times 07/08/2016
Britain's May 2015 general election
01/19/2015
Grouped Articles
U.K.’s 2015 Election Carries High Stakes for EU
Wall Street Journal 01/19/2015
Wall Street Journal 01/21/2015
Britain’s Surprisingly Unpredictable Election
Wall Street Journal 04/26/2015
Britain’s Drift From the Global Stage Becomes an Election Issue
New York Times 04/27/2015
Disgruntled U.K. Voters Rally to Small Parties
Wall Street Journal 05/01/2015
David Cameron Struggles to Turn Economic Recovery Into Votes
Wall Street Journal 05/06/2015
Britain's 2015 general election and the National Health Service (NHS)
04/25/2015
Grouped Articles
Britain’s National Health Service, Creaking but Revered, Looms Over Elections
New York Times 04/25/2015
Britain’s Drift From the Global Stage Becomes an Election Issue
New York Times 04/27/2015
Disgruntled U.K. Voters Rally to Small Parties
Wall Street Journal 05/01/2015
In U.K. Election, It’s Jobs Boom vs. Stagnant Wages
Wall Street Journal 05/07/2015
Theresa May Buries Thatcherism in Play for U.K.’s Working-Class Votes
The New York Times 05/18/2017
The NHS at 70: creaky, wheezy, beloved
06/18/2018
Britain's Labor Party in 2010-2015
09/25/2010
The election of Ed Miliband to head the party. The impact of the coalition government's austerity measures and deep cuts on Labor, and union support for Ed Miliband that enabled him to win. Shaky support for Liberal leaders in the coalition from their rank and file. Concern about the austerity measures and their impact on growth.
Grouped Articles
U.K.'s Labour Party Moves Back Toward Socialist Ideas
Wall Street Journal 09/25/2013
Economist 02/04/2014
Tax rates in Britain: François Miliband
Economist 02/04/2014
Conservatives Fare Poorly in British Races, London's Mayor Aside
New York Times 05/04/2012
Britain’s Surprisingly Unpredictable Election
Wall Street Journal 04/26/2015
In U.K. Election, It’s Jobs Boom vs. Stagnant Wages
Wall Street Journal 05/07/2015
Credibility of elites tested in the decade following the financial crisis of 2008-2009- falling incomes in the U.S. and high unemployment in Europe, and disaffection in local regions such as Scotland
09/20/2014
Policies of Gordon Brown and Alistair Darling in a Labor government increased the role of the financial sector in the British economy and the part played by London as financial capital, only to lead to a near collapse of the banks in the financial crisis of 2008-2009. Brown and Darling are both Scots who failed to see the effects on regions in Britain such as Scotland, already affected by deindustrialization under the Conservative Thatcher government, and now hit by the repercussions of the financial crisis under first Labor and then austerity Conservative government of David Cameron. Irwin faults the elites for failing to grasp the effects of their policies on average working people, the risks involved in an overblown speculative financial sector, and only waking up with the elections for the European parliament and tense moments before the referendum in Scotland.
Grouped Articles
In Scotland and Beyond, a Crisis of Faith in the Global Elite
New York Times 09/20/2014
The world economy: Wealth without workers, workers without wealth
Economist 10/06/2014
How Righteousness Killed the World Economy
New York Times 10/12/2014
Germany, France Tap Economists for Advice to Avoid ‘Lost Decade’
Wall Street Journal 10/14/2014
Jerry Brown is spending more on ballot measures than on his own campaign - The Washington Post
Washington Post 10/24/2014
British Treasury Targets Banks to Increase Tax Revenue
New York Times 12/04/2014
Britain's Budget and Osborne's plan for the economy in 2014
07/08/2013
Grouped Articles
British Budget Outlines Higher Growth and Help for Savers and Retirees
New York Times 03/19/2014
The economy: On a wing and a credit card
Economist 07/08/2013
Tough Slog to Balancing U.K.’s Budget
Wall Street Journal 12/04/2014
U.K. Plans New Taxes on Banks, Multinationals
Wall Street Journal 12/04/2014
Wall Street Journal 12/04/2014
British Treasury Targets Banks to Increase Tax Revenue
New York Times 12/04/2014
Competitiveness of Britain's economy- 2010-2015
04/12/2012
Grouped Articles
Heathrow's Future Is Up in the Air
Wall Street Journal 08/07/2013
Departing EADS Chief Urges Europe to Recommit to Industry
New York Times 04/12/2012
The economy: On a wing and a credit card
Economist 07/08/2013
In U.K. Election, It’s Jobs Boom vs. Stagnant Wages
Wall Street Journal 05/07/2015
France's economy in 2010-2014
06/23/2010
The determination in France, as in Britain, to take austerity measures, and to cut the deficit.
Grouped Articles
France Goes Against the Euro-Zone Flow
Wall Street Journal 04/18/2013
Europe to Vote on Tougher Rules for Currency
New York Times 09/27/2011
France Says It Will Miss Budget Deficit Targets
Wall Street Journal 09/12/2013
German Optimism Depends On Spanish Deficits
Wall Street Journal 09/25/2013
S.&P. Downgrade Deals Blow to French Government
New York Times 11/08/2013
Euro Zone Deficit Hits Target for First Time Since 2008
New York Times 04/23/2014
The economy of Britain in 2011-2012
01/29/2011
Grouped Articles
The economy: On a wing and a credit card
Economist 07/08/2013
In U.K. Election, It’s Jobs Boom vs. Stagnant Wages
Wall Street Journal 05/07/2015
The surprise fall in GDP: The lean year
Economist 01/29/2011
Wall Street Journal 03/23/2011
U.K. Economy: Suffering From Consumption?
Wall Street Journal 04/13/2011
British Deficit Defies Advocates of Austerity
New York Times 04/14/2011
The failures in Britain's banking industry and the serious impact on the public and the economy
02/04/2013
Grouped Articles
Osborne Promises More Regulatory Powers to Split Up British Banks
New York Times 02/04/2013
In U.K. Election, It’s Jobs Boom vs. Stagnant Wages
Wall Street Journal 05/07/2015
U.K.’s Economic Divide Takes Focus as May’s Lead in Polls Shrinks Ahead of Election
WSJ 06/06/2017
Britain's perilous path with austerity cuts, inflation and lower economic growth- 2011-2015
06/22/2010
Grouped Articles
The economy: On a wing and a credit card
Economist 07/08/2013
U.K. Moves To Tackle Income Squeeze
Wall Street Journal 08/20/2013
The Curious Case of Britain's Economic Recovery
Wall Street Journal 10/21/2013
U.K. Politicians Vie to Address Fall in Living Standards
Wall Street Journal 11/18/2013
U.K. Government Prepares For Deep Budget Cuts
Wall Street Journal 06/22/2010
British Towns and Institutions Reel From First Austerity Cuts
New York Times 08/09/2010
Britain's GDP in 2014 and pace of post recession recovery
12/24/2014
Grouped Articles
U.K. Economic Recovery Slower Than Previously Thought
Wall Street Journal 12/24/2014
U.K. Economy Slowed More Than Expected in Final Quarter of 2014
Wall Street Journal 01/28/2015
In U.K. Election, It’s Jobs Boom vs. Stagnant Wages
Wall Street Journal 05/07/2015
The problems at RBS and Lloyds banks slowing Britain's economic recovery in 2013-2014
09/25/2010
Experts such as Adam Posen say Britain failed to add enough capital to RBS and Lloyds banks and take aggressive acion, resulting in slow progress and limiting Britain's economic recovery. The government acquired large stakes in both banks during the global financial crisis of 2008-2009. The total assets of the two banks exceed Britain's GDP.
Grouped Articles
Bank Bailout Blues Stall U.K. Recovery
Wall Street Journal 05/14/2013
Wall Street Journal 06/13/2013
New York Times 06/12/2013
Royal Bank of Scotland Names New Chief Executive
New York Times 08/02/2013
Wall Street Journal 09/17/2013
Share Sale Marks Comeback for Lloyds and Its CEO
Wall Street Journal 09/18/2013
Cameron's new coalition government in Britain in 2010
05/07/2010
The U.K. has a new coalition government after all parties fell short of a majority in the 2010 election.
Grouped Articles
U.K. Tories Suffer in Election
Wall Street Journal 05/04/2013
Britain's accidental revolution
Economist 05/13/2010
In U.K. Election, It’s Jobs Boom vs. Stagnant Wages
Wall Street Journal 05/07/2015
New York Times 05/07/2010
U.K. Government Prepares For Deep Budget Cuts
Wall Street Journal 06/22/2010
BusinessWeek 06/24/2010
Britain's tax on the wealthy
11/29/2012
Increasing taxes on millionaires from 40% to 50% results in lower revenues. Cameron wants to change this to 45%.
Grouped Articles
Tax rates in Britain: François Miliband
Economist 02/04/2014
U.K. Plans New Taxes on Banks, Multinationals
Wall Street Journal 12/04/2014
In U.K. Election, It’s Jobs Boom vs. Stagnant Wages
Wall Street Journal 05/07/2015
Britain's Missing Millionaires
Wall Street Journal 11/29/2012
The Cameron government's overhaul of UK's welfare system
11/11/2010
Grouped Articles
In U.K. Election, It’s Jobs Boom vs. Stagnant Wages
Wall Street Journal 05/07/2015
New York Times 01/29/2016
In Britain, Cameron Unveils Strict Welfare Overhaul
New York Times 11/11/2010
Britain: Adviser Resigns After Remarks on Recession
New York Times 11/19/2010
Unemployment in Britain 2010-2015
11/16/2011
High unemployment in the UK as it reaches 8.4% for the fourth quarter of 2011.
Grouped Articles
The Next First (and Only) 100 Days
New York Times 12/10/2011
BOE to Keep Rates Low Even After Jobless Goal Is Met
Wall Street Journal 01/23/2014
BOE Guides to More of the Same
Wall Street Journal 01/23/2014
Wall Street Journal 03/04/2012
The world economy: Wealth without workers, workers without wealth
Economist 10/06/2014
In U.K. Election, It’s Jobs Boom vs. Stagnant Wages
Wall Street Journal 05/07/2015
Britain's 2010 general elections leading to a Tory-Liberal coalition government
05/13/2010
Grouped Articles
Britain's accidental revolution
Economist 05/13/2010
Britain’s Surprisingly Unpredictable Election
Wall Street Journal 04/26/2015
In U.K. Election, It’s Jobs Boom vs. Stagnant Wages
Wall Street Journal 05/07/2015
The economy after the election: The climb to come
Economist 05/09/2015
Nicola Sturgeon, leader of the Scottish National Party, in the 2015 general election in Britain
05/05/2015
Nicola Sturgeon has increased the popularity of the SNP in Scotland in 2015.
Grouped Articles
Nicola Sturgeon, Not Running in British Election, May Yet Prevail
New York Times 05/05/2015
In U.K. Election, It’s Jobs Boom vs. Stagnant Wages
Wall Street Journal 05/07/2015
David Cameron and Conservatives Get Majority in British Election
New York Times 05/08/2015
Post-Election Britain: A Disunited Kingdom
New York Times 05/08/2015
Markets, democracy and economics: The winning formula?
Economist 05/09/2015
A Chasm Divides David Cameron and Nicola Sturgeon, Leaders of a Kingdom Still United
New York Times 05/10/2015
Britain's elections to local councils and the European parliament amid voter discontent in May 2014
05/23/2014
Grouped Articles
Britain’s Discontent Lifts Populist Party to Even Stronger Vote Tally Than Expected
New York Times 05/23/2014
UKIP, Labour Make Gains In U.K. Local Vote
Wall Street Journal 05/24/2014
Anti-EU, Far-Right Parties Post Strong Gains in European Elections
Wall Street Journal 05/27/2014
Wall Street Journal 05/27/2014
E.U. Leaders to Meet in Wake of Election Setbacks
New York Times 05/27/2014
Populists’ Rise in Europe Vote Shakes Leaders
New York Times 05/26/2014
Changes in voting patterns in Britain in the 2010 general elections
05/13/2010
Grouped Articles
Economist 05/13/2010
Britain's accidental revolution
Economist 05/13/2010
David Cameron Struggles to Turn Economic Recovery Into Votes
Wall Street Journal 05/06/2015
In U.K. Election, It’s Jobs Boom vs. Stagnant Wages
Wall Street Journal 05/07/2015
Britain's Budget and Osborne's plan for the economy in 2013
06/22/2010
Grouped Articles
The economy: On a wing and a credit card
Economist 07/08/2013
The Curious Case of Britain's Economic Recovery
Wall Street Journal 10/21/2013
U.K. Government Prepares For Deep Budget Cuts
Wall Street Journal 06/22/2010
Britain Unveils Emergency Budget
New York Times 06/22/2010
Radical Britain: The unlikely revolutionary
Economist 08/14/2010
Tough Slog to Balancing U.K.’s Budget
Wall Street Journal 12/04/2014
Britain's economy and the British pound- 2009-2016
01/22/2009
Grouped Articles
The economy: On a wing and a credit card
Economist 07/08/2013
The Curious Case of Britain's Economic Recovery
Wall Street Journal 10/21/2013
Wall Street Journal 08/04/2010
Sterling Surges After U.K. Unemployment Data
Wall Street Journal 01/23/2014
Pound Hits Near Six-Year High After Upbeat Manufacturing Data
Wall Street Journal 07/02/2014
In U.K. Election, It’s Jobs Boom vs. Stagnant Wages
Wall Street Journal 05/07/2015
Five Rules for tackling the economic crisis and how Spain was slow to act compared to more aggressive steps in Britain and France
09/28/2011
One of the "must do" critical rules is that strong aggressive action and sound steps be taken early when borrowing rates are still favorable and there is time to respond and bring the debt situation under control. French prime minister Ayrault puts this succintly: "If we don't put a stop to this taxpayer money will keep going to pay for debt reimbursement." Britain has an extra margin of safety because of its established banking systems and experience, France because of support from Germany, a stronger economy and industry-government cooperation, Spain and Italy lack this extra margin of safety and needed even more vigilance and aggressive steps.
Grouped Articles
Wall Street Journal 09/28/2011
Wall Street Journal 06/01/2012
In U.K. Election, It’s Jobs Boom vs. Stagnant Wages
Wall Street Journal 05/07/2015
France Raises Taxes in Tough Budget
Wall Street Journal 09/28/2012
France's New Budget Focuses on Cutting Deficit
New York Times 09/28/2012
Spain Needs $76 Billion to Recapitalize Its Banks, Audit Finds
New York Times 09/28/2012
The economy of Britain in 2009-2010.
10/01/2009
Britain undergoes six quarters of declining GDP in September 2009.
Grouped Articles
In U.K. Election, It’s Jobs Boom vs. Stagnant Wages
Wall Street Journal 05/07/2015
U.K. Is Still in Recession as the Euro Bloc Improves
New York Times 10/24/2009
U.K. Numbers On Growth Don't Add Up
Wall Street Journal 10/24/2009
Economist 10/01/2009
‘Lost Decade’ Feared for British Economy
New York Times 11/21/2009
U.K. Unveils Severe 'Unavoidable Budget'
Wall Street Journal 06/23/2010
The economy of Britain in 2013-2014
11/14/2012
Grouped Articles
The economy: On a wing and a credit card
Economist 07/08/2013
The Curious Case of Britain's Economic Recovery
Wall Street Journal 10/21/2013
BOE to Keep Rates Low Even After Jobless Goal Is Met
Wall Street Journal 01/23/2014
Tough Slog to Balancing U.K.’s Budget
Wall Street Journal 12/04/2014
Inflation in Britain Falls to Lowest Rate in 15 Years
New York Times 01/13/2015
In U.K. Election, It’s Jobs Boom vs. Stagnant Wages
Wall Street Journal 05/07/2015
The widening gap betwen average wages and the consumer price index in Britain from July 2007 to July 2013
08/20/2013
Prices of basic household food and other items have gone up much faster than wages in Britain squeezing consumers and reducing consumer spending.
Grouped Articles
U.K. Moves To Tackle Income Squeeze
Wall Street Journal 08/20/2013
Recovery Has Created Far More Low-Wage Jobs Than Better-Paid Ones
New York Times 04/27/2014
How Righteousness Killed the World Economy
New York Times 10/12/2014
In U.K. Election, It’s Jobs Boom vs. Stagnant Wages
Wall Street Journal 05/07/2015
Economist 08/24/2015
The fight of his life: on the road with Jeremy Corbyn
The Guardian 06/02/2017
Inflation in Britain 2012-2017
11/14/2012
Grouped Articles
U.K. Moves To Tackle Income Squeeze
Wall Street Journal 08/20/2013
As the Working Poor Become More Common in Britain, So Does Hunger
New York Times 01/02/2014
BOE to Keep Rates Low Even After Jobless Goal Is Met
Wall Street Journal 01/23/2014
BOE Guides to More of the Same
Wall Street Journal 01/23/2014
Bank of England Flexes Further on Inflation
Wall Street Journal 02/13/2013
Eurozone Inflation Continues Its Slide
New York Times 07/31/2014
Britain's quarterly GDP growth
01/29/2011
Grouped Articles
The economy: On a wing and a credit card
Economist 07/08/2013
U.K. Economic Growth Slows in Third Quarter
Wall Street Journal 10/25/2014
U.K. Economic Recovery Slower Than Previously Thought
Wall Street Journal 12/24/2014
U.K. Economy Slowed More Than Expected in Final Quarter of 2014
Wall Street Journal 01/28/2015
In U.K. Election, It’s Jobs Boom vs. Stagnant Wages
Wall Street Journal 05/07/2015
U.K. Stumble Fuels Austerity Debate
Wall Street Journal 07/26/2012
Britain's Conservative Party.
10/08/2009
The increasing support for positions on public finances and personal responsibility of David Cameron and Osborne of the Conservatives. By supporting social protections in the manner of Angeka Merkel in Germany, and insting on personal responsibility and fiscal responsibility the Conservatives are gaining support.
Grouped Articles
U.K. Tories Suffer in Election
Wall Street Journal 05/04/2013
David Cameron Faces Rebellion in His Party
New York Times 05/23/2013
David Cameron Struggles to Turn Economic Recovery Into Votes
Wall Street Journal 05/06/2015
In U.K. Election, It’s Jobs Boom vs. Stagnant Wages
Wall Street Journal 05/07/2015
New York Times 10/16/2009
In Britain, a Soaring Deficit Lifts a Hawk
New York Times 10/17/2009
Britain's prime minister David Cameron and policy towards the European Union
10/24/2011
Grouped Articles
David Cameron Faces Rebellion in His Party
New York Times 05/23/2013
Merkel Cites ‘Threats’ in Warning to Cameron
New York Times 06/10/2014
Book Review: 'Unhappy Union' by John Peet and Anton La Guardia
Wall Street Journal 06/26/2014
Wall Street Journal 06/27/2014
Scotland Votes 'No' to Independence but U.K. Political Risk Remains
Wall Street Journal 09/20/2014
European Union Asks Britain to Pay Extra $2.7 Billion
New York Times 10/24/2014
David Cameron, prime minister of Britain- the first term 2010-2014
12/21/2009
Grouped Articles
David Cameron Faces Rebellion in His Party
New York Times 05/23/2013
Britain’s Surprisingly Unpredictable Election
Wall Street Journal 04/26/2015
David Cameron Struggles to Turn Economic Recovery Into Votes
Wall Street Journal 05/06/2015
In U.K. Election, It’s Jobs Boom vs. Stagnant Wages
Wall Street Journal 05/07/2015
David Cameron Sets Course for Britain Amid Pageantry of Queen’s Speech
New York Times 05/27/2015
The Agony of Victory: David Cameron, Interview
Washington Post 12/21/2009
The impact of austerity measures on various parts of Britain.
07/03/2010
Impact of the Cameron government spending cuts across the UK.
Grouped Articles
U.K. Politicians Vie to Address Fall in Living Standards
Wall Street Journal 11/18/2013
British Towns and Institutions Reel From First Austerity Cuts
New York Times 08/09/2010
Radical Britain: The unlikely revolutionary
Economist 08/14/2010
As the Working Poor Become More Common in Britain, So Does Hunger
New York Times 01/02/2014
U-Turn in the U.K.: Big Spending Cuts
Wall Street Journal 10/14/2010
Jack Monroe Has Become Britain’s Austerity Celebrity
New York Times 01/14/2014
Youth unemployment in Britain
11/16/2011
Youth unemployment in the UK reached 22.4% for ages 16-24 by January 2012.
Grouped Articles
France Pins Hopes on Youth Jobs Plan
Wall Street Journal 12/25/2012
Germany Works to Curb European Youth Unemployment
New York Times 05/22/2013
Wanted: Jobs for the New 'Lost' Generation
Wall Street Journal 09/14/2013
Young and Educated in Europe, but Desperate for Jobs
New York Times 11/15/2013
Can't Find Skilled Workers? Start an Apprentice Program
Wall Street Journal 01/17/2014
BOE to Keep Rates Low Even After Jobless Goal Is Met
Wall Street Journal 01/23/2014
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