Business
Wages growth like it’s 2013: RBA says a long grind for fatter pay packets – Sydney Morning Herald
The RBA believes it will take years for wages to start growing fast enough to get inflation back to its target band even as businesses grow more upbeat.
In contrast, in some other countries, including the United States, the adjustment had mainly been through a decline in employment.
Unemployment fell to 5.6 per cent in March, just before the federal governments JobKeeper wage subsidy program ended, to be much lower than had been feared by Treasury and private-sector economists. Job ads have also been around their highest levels since the immediate wake of the global financial crisis.
The minutes show the bank is still uncertain about the impact…
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