1) Fear of unemployment substantially depresses pay in both countries …3) The unemployment elasticity of pay averages -0.1 in the UK and apparently zero in the US …

the flow of workers from Eastern Europe, the fear of unemployment has risen in the UK which appears to have contained wage … rate of unemployment …

the flow of workers from Eastern Europe, the fear of unemployment has risen in the UK which appears to have contained wage … rate of unemployment …

results are contrasted with those from a comparable sample from the US from 1977-1988. 1) Fear of unemployment substantially … upwards than downwards.3) The unemployment elasticity of pay averages -0.1 in the UK and apparently zero in the US.4) Wages …

Most economists maintain that the labor market in the United States is 'tight' because unemployment rates are low. They …, prior to that, real wages had been stagnant for some time. We show that unemployment is not key to understanding wage …