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The great British jobs and productivity mystery

The great British jobs and productivity mystery

05/07/2014

With some economic recovery having finally got underway, the UK is still feeling the repercussions of the so-called ‘Great Recession’. National output, as measured by GDP, fell by over 7% from its peak in January 2008 – the biggest fall since the inter-war years – and only returned to its pre-crisis level in April 2014 (NIESR 2014). This has been the slowest recovery in this century (see Figure 1).

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