Reinventing the wheel - exploring the NAIRU | tutor2u Economics
In the News

Reinventing the wheel - exploring the NAIRU

Chris Dillow explores the some of the thinking behind the construction of the NAIRU concept.

Read the article here

Essentially the NAIRU (the non-accelerating inflation rate of unemployment) is driven by the relative bargaining power of agents in the labour market. 

Unemployment in the UK continues to fall although under-employment remains high. Real wages are stagnant or falling for millions of people in work. Monopsony power in the labour market is growing. Barely a day goes by without news articles on employers such as Amazon, Sports Direct, Uber, Deliveroo and numerous contract cleaning and security businesses where the negotiating power of employees is close to non-existent - the expanding precariat is an issue of economic and social concern to many

Trade union membership has fallen from a high of 13.2 million in 1979 to 6.2 million in 2015-2016

Subscribe to email updates from the tutor2u Economics

Join 1000s of fellow Economics teachers and students all getting the tutor2u Economics team's latest resources and support delivered fresh in their inbox every morning.

You can also follow @tutor2uEconomics on Twitter, subscribe to our YouTube channel, or join our popular Facebook Groups.

Job board

Economics Contributor

tutor2u, On-line

Related Collections

Teaching Vacancies

Recruitment

Advertise your vacancies with tutor2u

Much cheaper & more effective than TES or the Guardian. Reach the audience you really want to apply for your teaching vacancy by posting directly to our website and related social media audiences.

Find our more ›

Advertise your teaching jobs with tutor2u

A New Home for tutor2u Resources

We've just flicked the switch on moving all our digital resources to instant digital download - via our new subject stores.

For every subject you can now access each digital resource as soon as it is ordered. This will always be the latest edition of each resource too (and we'll update you automatically if there is an upgraded version to use).

Simply add the required resources to your cart, checkout using the usual options and your resources will be available to access immediately via your mytutor2u account.