Labour market flexibility helps to restrict cuts

Article reports that although unemployment remains painfully high, the United Kingdom's labour market in 2009 is not only performing better than in past recessions, but it is also so far functioning relatively well by international standards.

The UK is sometimes described as having an 'Anglo-social' labour market model, midway between the US and European variants. On this occasion, it has achieved a similar performance to other European countries but without a short-time working scheme, although there have been a series of individually negotiated voluntary schemes.

OECD: Press Release, 9.11.09: Harmonised Unemployment Rates (HURs), OECD - Updated: November 2009 http://www.oecd.org/document/38/0,3343,en_2649_34251_44038899_1_1_1_1,00.html

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