- Joined
- 1 Apr 2016
- Messages
- 13,609
- Reaction score
- 552
- Country
I thought the UK now had full employment, apparently unemployment can't go below 3% as you need flexibility in the Labour market.
So if there is full employment in the economy why aren't the tax revenues flowing in to clear the deficit, if the UK can't balance the books with full employment how will they ever balance them.
Is this paradox of alleged full employment vs claims by the government that there isn't enough money coming in caused by the fact that due to massive immigration of low skilled labour Britain is now a low wage economy.
Look into NAIRU.
https://data.oecd.org/unemp/unemployment-rate.htm