Research and analysis

Productivity, investment and training: how the recession affected business. Crawford, Institute for Fiscal Studies

A report from the Institute of Fiscal Studies on the effects of the 2008 to 2009 recession on firms' productivity, investment and training.


Firms’ productivity, investment and training: what happened during the recession and how was it affected by the national minimum wage?

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This report uses business data to show ‘labour hoarding’ during the recession, when firms held on to their workers and reduced their hours, rather than making them redundant. It also looks at investment and training over the course of the recession. It shows how patterns vary among different types of firms, including by size and coverage of the National Minimum Wage.

Published 9 August 2013