Ideal jobless rate ‘some time away’: RBA
By Dynamic Business · 16 July 2019 · Locked
By Dynamic Business · 16 July 2019 · Locked
The Reserve Bank of Australia is working to achieve the ideal jobless rate, but a high participation rate and expanding workforce are making it a challenging task. Will the RBA's efforts pay off in the near future?
Reserve Bank of Australia board members agreed back-to-back cash rate cuts were necessary to eat into spare labour market capacity, but a high participation rate and an expanding working age population means it will take “some time” to achieve the ideal jobless rate. Minutes from the RBA’s July 2 meeting show members agreed a consecutive […]
Tags: Australian Economy, cash rate, Economy, jobless rate, Rba, Reserve Bank of Australia, Unemployment, Unemployment Rate