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Institute of Economic Research, University of Wales Bangor, Gwynedd LL57 2DG, Wales

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  • R R MacKay

Abstract

What we achieve and what we contribute are not independent of the level of demand for labour. Substantial labour reserves indicate that the labour market fails to discover a balance that reflects the needs and preferences of the population of working age. Different data sets—unemployment, vacancies, full-time equivalent jobs, and census data on forms of nonwork—are used to build a picture of the shift from tight to slack labour markets. The different sources confirm that unemployment becomes increasingly unreliable as a measure of labour reserve. The more difficult the labour market, the more likely it is that lack of opportunity takes the form of ‘sickness’ or government training rather than unemployment.

Suggested Citation

  • R R MacKay, 1999. "Institute of Economic Research, University of Wales Bangor, Gwynedd LL57 2DG, Wales," Environment and Planning A, , vol. 31(11), pages 1919-1934, November.
    • Handle: RePEc:sae:envira:v:31:y:1999:i:11:p:1919-1934
    DOI: 10.1068/a311919
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    References listed on IDEAS

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    1. Rosewell, Bridget & Robinson, Derek, 1980. "The Reliability of Vacancy Statistics," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 42(1), pages 1-16, February.
    2. John Grieve Smith, 1997. "A Pledge Betrayed," Palgrave Macmillan Books, in: Full Employment: A Pledge Betrayed, chapter 1, pages 1-14, Palgrave Macmillan.
    3. Chakravarty, S P & MacKay, R Ross, 1999. "Revolution and Counter-Revolution: Two Views of Unemployment," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 23(3), pages 337-351, May.
    4. Christina Beatty & Stephen Fothergill, 1996. "Labour Market Adjustment in Areas of Chronic Industrial Decline: The Case of the UK Coalfields," Regional Studies, Taylor & Francis Journals, vol. 30(7), pages 627-640.
    5. John Grieve Smith, 1997. "Full Employment: A Pledge Betrayed," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-37238-2, December.
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