The European and American labour markets are in the midst of one of their strongest periods since the economic downturn of the Cold War-era late 1970s, but wage growth remains stagnant and deflationary pressure persists, while poverty still remains a major concern.
Historically, high employment rates came hand-in-hand with soaring wages, inflation, and growth. But traditional models no longer seem to apply.
In the third quarter of 2018, most central banks in the developed world were set to ret...

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