No backlash
Article Abstract:
US workers are benefiting from higher real wages although nominal wage rises may be low, and this is why a worker backlash has not occurred, according to Merrill Lynch. Unemployment is at 5% which some economists foresaw would lead to a rise in wage costs, but this has not occurred. Labor costs have changed little in the two years to Aug 1997 and wage growth decelerated in 1st half 1997. The view of a worker backlash against poor conditions in the 1990s has not proved to be valid.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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For euros only
Article Abstract:
UK interest rates would converge with those of the euro zone if the UK replaced sterling with the euro, which is generally viewed as beneficial for the UK economy. The likely impact of interest rate convergence is demonstrated by the expected change in the UK gilt yield. Different markets have different yield curves and investors should be aware of the capital effect of a move in yields to gilts on convergence.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1999
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