Blanchflower: No Evidence of U.K. Wage Growth Picking Up

The video discusses the current state of inflation forecasts, highlighting concerns about potential risks and the stability of inflation expectations. It examines the unemployment rate, suggesting that there is more slack in the labor market than previously thought, and critiques the accuracy of wage growth predictions. The discussion extends to the US labor market, where it is argued that there is significant slack, contrary to the Fed's assessment, and that productivity growth remains low.

What arguments are presented regarding wage growth in the labor market?

How does the text compare the labor market slack in the US and the UK?