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During Britain’s early-1980s recession, a 4.7% loss in output caused employment to fall by 2.4%. In the early 1990s recession, a 2.5% loss in output led to a 3.4%  fall in the number of people in work. In the recent recession, output plunged by 6.2% but employment fell by only 1.9%. So whereas in the […]

Posted 11 Apr 2010 in Blog