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'People should be getting higher & higher wages and that would be the definition of a good outcome [to a degree], right at the time when you're saying don't ask for higher wages because that's going to wreck the economy?' ＠susannareid100 asks the Education Minister how the Govt can... show more

Good Morning Britain

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1,720,373 views • 3 years ago •via X (Twitter)

News & Politics Education

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10 Comments

Mike Taulty3 years ago

@susannareid100 If someone studies Classics at Oxford and ends up writing a column for The Daily Mail - is that a good outcome or a bad one?

Marty Dreams3 years ago

@susannareid100 I studied Film & TV production for 3 years at Uni. I then struggled to get into the industry for years. I ended up working at a shop: GAME UK. From there I managed to plot a path and 6 years on I'm now a videogame producer. My Degree did help. How can they(gov) define it's worth?

Retesh Bajaj3 years ago

@susannareid100 Reconcile this

Dr Zubaida Haque3 years ago

@susannareid100 Wait till the Education Minister hears about gender and ethnic *penalties* [after graduation] in the labour market even when graduates have the same degrees...

John Dakin3 years ago

@susannareid100 As @guardian points out today, this government knows the price of everything and the value of nothing.

Toddy3 years ago

@susannareid100 One of my children got her degree, inspite of covid. Once graduated she and her fiancé tried to make it work here. 2x jobs each. Now they have emigrated to oz. They couldn’t pay their rent here. There they are making a good living. Breaks my heart 1/2

James Gavin 🏳️‍🌈 🥳 🏴󠁧󠁢󠁳󠁣󠁴󠁿3 years ago

@susannareid100 What a load of waffle. Another policy just plucked out of the air to distract from their failings.

Kmag3 years ago

@susannareid100 Jeez, why are all tory politicians vile?

Nat3 years ago

@susannareid100 PPE is the most Mickey Mouse degree going, yet that seems popular with a certain subsection of society

Bec3 years ago

@FlimsRadar @susannareid100 So the Conservative Government are ruling out people to train as Teachers and Nurses?

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Much attention has been focused on the zero lower bound for nominal interest rates. There is another nominal lower bound which may be equally important, the zero lower bound on nominal wage changes. A particular striking example is that of Portugal. The video below shows the evolution of the distribution of nominal wage changes for stayers for each year from 2003 to 2024. Note the dramatic bunching at zero during 2009-2013, a time when inflation was low and unemployment very high. (Source: My co-author, Pedro Portugal, based on Linked employer-employee dataset Quadros de Pessoal.) Deflation may thus lead both to higher real rates and higher real wages. Not a pleasant outcome when one is trying to increase activity. Admittedly, right now, none of the two ZLBs is an immediate preoccupation. But both were costly not so long ago, and should not be forgotten.

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