Two propositions figure prominently in explanations for Britain's comparatively low growth in employment: first, the … wage-setting mechanism is insufficiently responsive to the growth of unemployment and, second, there exists a well …-defined negative causal relationship from wages to employment with the features of a conventional labor demand function. Using …

We provide a unified discussion of the relations among flows of workers, changes in employment and changes in the … firms in 1988 and 1990) we discover that: 1) Nearly half of all hiring is by firms where employment is not growing; 2) Over … imply that macroeconomic fluctuations can have substantial effects beyond those indicated by net employment changes at the …