Abstract
I think anybody reading Chapter 4 above carefully would conclude that it provides further support for the inferences drawn about the youth labour market in the post-war period by Merrilees and Wilson (1979), Rice (1986) and myself (1983 and Chapter 3 above). In particular, the youth labour market is best characterised as being in disequilibrium, and during periods when young people are in excess supply both their relative labour costs and the general level of demand appear to be important determinates of their employment. Readers would also recognise that the problems with the data require that caution be exercised in interpreting the results for both relative labour costs and the effect of the economic cycle.
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