In the past few months, employment has been going quite well. Treasurer Scott Morrison is gloating about the 300,000 new jobs made in the past 12 months — 80 per cent of them full time. (He doesn’t mention wages growth much though because it is still remarkably bad.)
The Reserve Bank is chuffed too. After a lot of panic, they are grasping at signs that our economy is getting back to normal. They acknowledge wages growth is low but expect it to start “picking up gradually in response to the strengthening labour market”.
That’s certainly what you’d expect to happen. Basic […]
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