Unemployment Drives Wages: Upward Spiral Traps Workers in Low-Pay Cycle
The article explores how wages are related to unemployment in the UK. It looks at whether wages are affected by current unemployment rates or changes in wages. The researchers investigate if regional wages are influenced by local or national unemployment levels. They also examine if there is a connection between wages and unemployment that leads to people moving for better pay. Additionally, the study considers if wages are influenced by past labor market conditions or when someone starts a job.