Actually, I had not seen that characterization before, and Economist does not use the terminology. I invented it because after the housing bubble - a real one - the term is up for grabs to suit anything a politician of any stripe wishes to say is inflated and due for shrinkage.
Economist, here in an opening intro and an in-depth follow-up article here looks at the US situation, already noted by NY Times and derivatively by Crabgrass; this link. You know it's Brits producing the graph below, because of the spelling, "labour."
With private sector unionism waning as charted, the looming big business alliance - Chamber of Commerce target is not hard to discern. Dem bureaucrats, cut Dem down to size, ya betcha. And most probably are Dem, to further fan the flames of GOP labor undermining passions. And if the drumbeat is heard across the Atlantic, can you doubt it's being strongly orchestrated? Movement in lockstep is always interesting to see, and to ponder.