Original article by Sarah Ison
The Australian – Page: 4 : 26-Sep-23

The federal government has attracted criticism over its employment white paper’s revised definition of ‘full employment’. The government’s goal is for ‘everyone who wants a job to be able to find one without searching for too long’. Treasurer Jim Chalmers say the technical definition of full employment – the non-accelerating inflation rate of unemployment, which is used by the Reserve Bank – is distinct but complementary to the government’s objective. However, Australian Chamber of Commerce & Industry CEO Andrew McKellar contends that having dual definitions for full employment could undermine the RBA’s efforts to restore inflation to its target range. The white paper estimates that about 2.8 million people are either unemployed and looking for work or underemployed and seeking more work.

CORPORATES
AUSTRALIA. DEPT OF EMPLOYMENT AND WORKPLACE RELATIONS, RESERVE BANK OF AUSTRALIA, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY