Regional unemployment and labour mobility in the UK
Regional unemployment and labour mobility in the UK
This paper surveys analysis of the relationship between regional unemployment and labour mobility in the UK. A notable feature is the recent rise in the volatility of unemployment in the high wage region of the South East. This is explained by the relative growth of personal sector mortgage indebtedness in that region and greater consumption demand sensitivity to interest rate shocks. Regional unemployment rate differences are largely determined in the manual labour market and show only slight evidence of cyclically corrected convergence. This is underpinned by relatively low migration amongst manual workers, and little sensitivity of out-migration to regional labour market slack. Two regions have experienced persistent employment growth and attracted significant immigration of non-manual labour to low unemployment and increasing relative wage labour markets.
regional unemployment, cyclicity, migration, occupational groups, growing regions, mortgage debt
581-589
McCormick, Barry
6030c745-bb61-4e93-ab8f-91e676281e08
1997
McCormick, Barry
6030c745-bb61-4e93-ab8f-91e676281e08
Abstract
This paper surveys analysis of the relationship between regional unemployment and labour mobility in the UK. A notable feature is the recent rise in the volatility of unemployment in the high wage region of the South East. This is explained by the relative growth of personal sector mortgage indebtedness in that region and greater consumption demand sensitivity to interest rate shocks. Regional unemployment rate differences are largely determined in the manual labour market and show only slight evidence of cyclically corrected convergence. This is underpinned by relatively low migration amongst manual workers, and little sensitivity of out-migration to regional labour market slack. Two regions have experienced persistent employment growth and attracted significant immigration of non-manual labour to low unemployment and increasing relative wage labour markets.
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Published date: 1997
Keywords:
regional unemployment, cyclicity, migration, occupational groups, growing regions, mortgage debt
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Local EPrints ID: 33011
URI: http://eprints.soton.ac.uk/id/eprint/33011
ISSN: 0014-2921
PURE UUID: a8a52b8e-b914-4bb8-98b1-b63a6adf3f33
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Date deposited: 04 Jan 2007
Last modified: 15 Mar 2024 07:40
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