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Keywords:Labor supply - Great Britain 

Working Paper
Ready, willing, and able? measuring labour availability in the UK

The unemployment rate is commonly assumed to measure labour availability, but this ignores the fact that potential workers frequently come from outside the current set of labour market participants, the so-called inactive. The UK Longitudinal Labour Force Survey includes information that can be used to predict impending employment transitions. Using this unique dataset, new measures of labour availability, and indicators based on the more familiar unemployment rate alternatives, can be constructed and are reported here. The micro and macroeconomic performance of these labour force ...
Working Papers (Old Series) , Paper 0303

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