Concluding paragraphs from RBA Dep Gov..........>

RBA: Concluding paragraphs from RBA Dep Gov Debelle's Speech on "Employment and

Wages":

- "Today I have provided an overview of the current state of play in the labour

market and the Bank's expectation about how it might evolve in the period ahead.

I have highlighted some of the key forces that have shaped these developments,

in particular, the rise in the participation rates of female workers and older

workers. The Bank is trying to understand what has been driving these macro

developments using some newly available micro data sources. This greater

understanding should help inform our outlook for the labour market. This

increase in labour supply has meant that the strong employment outcomes in

recent years has not generated the pick-up in wages growth that might otherwise

have occurred. At the same time, I have highlighted the increased prevalence of

wages growth in the 2s across the economy. A gradual lift in wages growth would

be a welcome development for the workforce and the economy. It is also needed

for inflation to be sustainably within the 2-3 per cent target range."

- Link: https://www.rba.gov.au/speeches/2019/sp-dg-2019-11-26.html