Low unemployment and longer hours

Larry Elliott's latest article is a real tour de force, looking at the ongoing conundrum of the UK labour market.

Why is it that when unemployment so low, there's been no post-financial crisis recovery of wages?

To answer this he cites the latest Resolution Foundation research which has a number of explanations of this, with the most obvious being that more people are working, with people working longer hours and more women participating in the labour force, largely as a result of households trying to protect their real incomes. It is a typically excellent read.