A second factor slowed rehiring in the United Kingdom: newly powerful unions, and the governments behind them. Determined young labor leaders demanded and got relatively high wages. Employers found they could not sell their products at prices high enough to offset their higher-wage contracts. So employers simply adjusted by rehiring fewer workers. The result of these two ostensibly pro-worker conditions — relatively generous unemployment payments and relatively high wages — was double-digit unemployment for the United Kingdom throughout the 1920s.
https://thehill.com/opinion/finance/499367-no-dole-for-america-how-to-recover-from-covid-19
https://thehill.com/opinion/finance/499367-no-dole-for-america-how-to-recover-from-covid-19
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