Revision: Labour Market Failure

Markets fail when they do not reach an efficient and/or equitable outcome from society’s point of view. At AS level, you will have studied many examples of possible market failure ranging from the provision of public and merit goods through to externalities and the welfare consequences of monopoly power in markets.  At A2 level, you are asked to explore some issues relating to labour market failure. This revision note flags up a few of them:

Revision note:
Revision_Labour_Market_Failure.pdf

UK migrant flows starting to reverse?

Migrant flows starting to reverse

There are signs that the huge inflow of migrant workers predominantly from eastern european countries which has boosted the effective UK labour supply in recent years is starting to go into reverse.