[IER] World of work 'returns to pre-industrial era', says BoE economist

Sarah Glenister sarah at ier.org.uk
Fri Jun 23 17:37:20 BST 2017



IER News Brief 23/06/17

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news brief

Friday 23rd June 2017

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The world of work has returned to a similar pattern seen in the pre-industrial era of 1500-1750 <http://ier.us12.list-manage1.com/track/click?u=f121e48a8bb6d3101590c12d3&id=552e590bb1&e=71131c031b> , with high levels of self employment, low levels of unionisation, and a decoupling in the link between employment rates and wage levels.

That's according to Bank of England economist Andrew Haldane, who pointed to the casualisation of work as a factor in weak wage growth in a speech earlier this week. Indeed, new OECD figures <http://ier.us12.list-manage2.com/track/click?u=f121e48a8bb6d3101590c12d3&id=6d6c741383&e=71131c031b>  warn that the UK will see the worst decline in real wages of any developed economy next year.

But the Queen's Speech did not offer much in the way of reassurance for workers, pointing to a few manifesto promises that may transpire to be tokenistic at best. See our easy-to-read table on what the Queen's Speech does - and doesn't - mean for workers <http://ier.us12.list-manage.com/track/click?u=f121e48a8bb6d3101590c12d3&id=d3a2d0e386&e=71131c031b> .

Also in the headlines today: Theresa May's deal for EU workers resident in the UK, which European leaders have criticised as 'vague' <http://ier.us12.list-manage.com/track/click?u=f121e48a8bb6d3101590c12d3&id=27bb3a5d83&e=71131c031b> , while the 3million group, which represents the interests of EU workers in the UK, revealed they currently have fewer rights than a jar of jam <http://ier.us12.list-manage.com/track/click?u=f121e48a8bb6d3101590c12d3&id=0a1dd45054&e=71131c031b> .

Fears abound not only for EU nationals' but also for UK-born workers' rights, which the Conservative Party has so far refused to protect in statute when the UK leaves the EU. There are also concerns that pressures on the UK to be "corporation-friendly" in future international trade deals will lead to a race to the bottom of workers' rights. On 19 July, our experts will debate the risks to and opportunities for workers' and trade union rights from Brexit and trade deals. Book your place now to avoid disappointment <http://ier.us12.list-manage.com/track/click?u=f121e48a8bb6d3101590c12d3&id=dbd51a3e5c&e=71131c031b> .

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