Unemployment rate needs to be 4pc to get wages up: Labor

Original article by Matthew Cranston
The Australian Financial Review – Page: 12 : 28-Jun-19

Shadow assistant treasurer Andrew Leigh will use a speech on 28 June to argue the case for Australia’s full employment target to be lowered. The Reserve Bank of Australia has downwardly revised its estimate of full employment from 5.5 per cent to 4.5 per cent over the last few years, but Leigh will suggest that an employment rate of four per cent is "eminently achievable". He will state that this would result in an extra 160,000 Australians being employed. He says that creating jobs is the best way to boost wages growth.

CORPORATES
AUSTRALIAN LABOR PARTY, RESERVE BANK OF AUSTRALIA, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS

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