Voters Emphasise importnace of Jobs

As the Australian Financial Review notes that jobs is the number one concern of voters (see below), it is useful to remember that The Reserve Bank’s latest analysis in its August statement on monetary policy shows that under the present government “wages growth has dropped to its slowest pace since the early 2000’s” and that the “increase in the unemployment rate over the past year or so indicates that there are more people actively looking for work”. Indeed, this has occurred with “employment growth remaining below the growth of the working age population” ie people have been dropping out of the work force because of the difficulty of finding jobs and despite slower growth in wages.

The performance of (real) wages and employment growth is much worse than under the Howard government. Something wrong with the existing industrial relations policy?

 Des Moore is a member of the HR Nicholls Society Board of Management 
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