Resource title

Hours and Wages in the Depression: British Engineering, 1926-1938

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image for OpenScout resource :: Hours and Wages in the Depression: British Engineering, 1926-1938

Resource description

On their intensive margins, firms in the British engineering industry adjusted to the severe falls in demand during the 1930s Depression by cutting hours of work. This provided an important means of reducing labour input and marginal labour costs, through movements from overtime to short-time schedules. Nominal wages dropped relatively modestly while real wages continued to rise throughout the trough years of the recession. Empirical work is based on cell data from a panel of 28 local labour markets for the period 1926-38. The data dichotomise between skilled fitters and unskilled labourers and between time-rate and piecerate workers. The findings have interesting implications for Phillips curve and wage curve studies.

Resource author

Robert A. Hart

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Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/20971

Resource license

Adapt according to the presented license agreement and reference the original author.