Free Trial
GILTS

UK Yields are pushing higher

STIR FUTURES

Fed Rate Path Grinds Higher, Keeps To 2023 Cut

AUD

AUDUSD eye next support

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

MNI INTERVIEW: Long-term Sickness Hits Jobs Market- BOE Haskel

(MNI) London
(MNI) London

Long-term sickness is key in understanding reduced labour supply and official headline data under-estimate it, BOE MPC member Jonathan Haskel and economist Josh Martin tell MNI.

Long-term sickness amongst the UK labour force is more widespread than headline official data suggest, with ongoing work by Bank of England Monetary Policy Committee member Jonathan Haskel and Bank economist Josh Martin suggesting strongly that simply looking at the main reason why people say they are not participating is misleading, Haskel told MNI in an interview.

The inflation challenge for the MPC would intensify if the pandemic-related surge in the level of long-term sickness persists. It would point to a reduction in potential output and more enduring inflation pressures -- with labour market tightness higher than assumed by just looking at jobless rates.

Keep reading...Show less
626 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

Long-term sickness amongst the UK labour force is more widespread than headline official data suggest, with ongoing work by Bank of England Monetary Policy Committee member Jonathan Haskel and Bank economist Josh Martin suggesting strongly that simply looking at the main reason why people say they are not participating is misleading, Haskel told MNI in an interview.

The inflation challenge for the MPC would intensify if the pandemic-related surge in the level of long-term sickness persists. It would point to a reduction in potential output and more enduring inflation pressures -- with labour market tightness higher than assumed by just looking at jobless rates.

Keep reading...Show less