General review [January 1976]

Richard Telford, Fraser of Allander Institute

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Abstract

Prospects for the world economy are considerably brighter at the start of 1976 than they were at the beginning of 1975. In the present circumstances, UK recovery must be expected to lag behind that of the EEC and the United States. Meanwhile, the government should regard retraining of the unemployed as a continuing full-time activity and not simply as a haphazard response to unforeseen events. The occupational mobility of labour is a precondition of full employment if real wages are to rise in line with general expectations.
Original languageEnglish
Pages (from-to)3-7
Number of pages4
JournalQuarterly Economic Commentary
Volume1
Issue number3
Publication statusPublished - Jan 1976

Keywords

  • world economic trends
  • UK economic conditions
  • British economic performance

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