Further, there are things that can be done to mitigate those problems over the wider area: a common treasury, that full economic union, inter-regional transfers and a mobile labour force.

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So a fall in that rate could be seen as beneficial, as it might make labour more mobile and thus lower the unemployment rate.

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So the rise in the private rental market is making the UK labour force more mobile: which will, in time, lead to unemployment being lower than it would otherwise be.

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