Economist or Research Economist (cover role)

We are looking for an Economist or Research Economist to cover on the Labour Market Team in the Structural Economics Division of Monetary Analysis over the period 27th January - 20 July. The cover role can be filled either as an Economist or a Research Economist.

The team is responsible for assessing topical structural issues in the UK labour market including the estimation of long-run trends and key labour market relationships such as the Phillips curve and Beveridge curve. The team employs a range of econometric and quantitative modelling techniques based on recent advances in the macro-labour literature, making extensive use of both aggregate and detailed microdata to study the business cycle and assess the state of the UK labour market.

A key objective across all of our teams in SED is horizon scanning and producing medium-term analytical projects that focus on the most important issues shaping the constantly evolving macroeconomic landscape.

The role will be tailored to suit individual strengths but will generally involve:

• Using empirical methods (time series and micro-econometric models) and advanced data analysis (including large microdata) to synthesise information from different data sources and answer key policy questions


• Building structural models to understand the implications of structural changes in the economy


• Communicating analysis to the MPC and advising Committee members and senior management in your field of expertise


• Supporting the production and communication of the MPC's forecasts and policymaking process


• For the Research Economist role: Pursuing an individual research portfolio that aligns with the research ambitions of the Bank


You will work closely with other teams in SED and, more broadly, across Monetary Analysis and other areas of the Bank.

We encourage applications both from those with a policy-analysis background or a research background. For the Research Economist role, we encourage applications from individuals who have recently obtained or are about to obtain a PhD and the role will include dedicated research time. For the Economist role, we are looking for candidates with strong analytical skills. You don't need to already meet all the criteria set out below.


• An interest in labour market issues and contributing to monetary policy.


• Strong analytical skills - including for example econometric and/or statistical analysis, programming and data analysis - and an ability to use them to deliver work that has an impact.


• Ability to work collaboratively and inclusively with others.


• Ability to explain complex material to a non-expert audience.


• For the Economist role: A relevant postgraduate qualification, such as a Masters in economics or other relevant subject, or equivalent work experience.


• For the Research Economist role: A recently obtained or forthcoming PhD with a specialism in labour market analysis or other relevant subject.


Desirable Criteria (You should not be put off from applying if you do not meet all of these criteria).

• Experience working with UK data, either for research or policy.


• Prior experience working at a policy institution and/or on business cycle macroeconomics or similar experience.


• Experience leading analytical projects., Our Approach to Inclusion
  
  The Bank of England is the UK's central bank. Our mission is to deliver monetary and financial stability for the British people.


The Bank of England is a diverse organisation. Each of its 4,000 plus people are committed to public service and dedicated to promoting the good of the people of the United Kingdom by maintaining monetary and financial stability.

Monetary Analysis

Monetary Analysis (MA) provides the core analytic support that underpins the setting of Bank Rate by the Monetary Policy Committee (MPC) to meet the inflation target. We are closely linked to the MPC Unit, which supports the external members of the MPC.

Structural Economics Division

The mission of the Structural Economics Division (SED) is: To deliver incisive, impactful medium-term analysis and research on the evolving structure of the UK economy both cross-sectionally and over time, giving the MPC and wider Bank a clear picture of key structural changes and their underlying drivers.

SED is comprised of several specialist teams that cover the labour market, households, corporates, trade, fiscal, climate change, monetary policy transmission and inflation dynamics. We also lead on the Decision Maker Panel survey, jointly with colleagues at Stanford and Nottingham universities, and the NMG survey of households, jointly with colleagues in Financial Stability. Outputs include staff-initiated Special Topics Meetings (STMs) with the MPC, contributions to Key Issues Meetings and the forecast more broadly, research papers and Research Awaydays. We collaborate extensively with other areas of Monetary Analysis and the Bank, in particular Financial Stability, the International Directorate and Advanced Analytics. And we maintain a network of academic consultants working on similar topics. The sub-teams in the division are centres of excellence and expertise and team members are frequently directly contacted by MPC members for advice.

The Bank values diversity, equity and inclusion. We play a key role in maintaining monetary and financial stability, and to do that effectively, we believe we need a workforce that reflects the society we serve. At the Bank of England, we want all colleagues to feel valued and respected, so we're working hard to build an inclusive culture which supports people from all backgrounds and communities to be at their best at work. We celebrate all forms of diversity, including (but not limited to) age, disability, ethnicity, gender, gender identity, race, religion, sexual orientation and socioeconomic status. We believe that it's by drawing on different perspectives and experiences that we'll continue to make the best decisions for the public.We welcome applications from individuals who work flexibly, including job shares and part time working patterns. We've also partnered with external organisations to support us in making adjustments for candidates and employees
in the recruitment process where they're needed. For most roles where work can be carried out at home, we aim for colleagues to spend half of their time in the office, with a minimum of 40% per month. Subject to that minimum requirement, individuals and managers should work together to find what works best for them, their team and stakeholders.Finally, we're proud to be a member of the Disability Confident Scheme. If you wish to apply under this scheme, you should check the box in the 'Candidate Personal Information' under the 'Disability Confident Scheme' section of the application.Salary and Benefits InformationWe encourage flexible working, part time working and job share arrangements. Part time salary and benefits will be on a pro-rated basis as appropriate.This role offers a salary of £52,730 - £62,370. In addition, we also offer a comprehensive benefits package as detailed below:

• A non-contributory, career average pension giving you a guaranteed retirement benefit of 1/95th of your annual salary for every year worked. There is the option to increase your pension (to 1/50th) or decrease (to 1/120th) in exchange for salary through our flexible benefits programme each year.


• A discretionary performance award based on a current award pool.


• An 8% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits.


• 26 days' annual leave with option to buy up to 12 additional days through flexible benefits.


• Private medical insurance and income protection.