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The Latest Breaking News from NAIRU

Why the RBA should rethink key inflation assumption

The strength of Australia's labour market has kept the Reserve Bank from cutting interest rates but growing evidence suggests it's not as crucial as thought.

AAP

Fiddling with interest rates won’t alter inflation — or change that we’re running out of workers

While supply-driven inflation is persisting, interest rate hikes have smashed demand, including for workers.

Crikey

Labor’s employment white paper continues the wreckage of neoliberalism

The government’s approach when it comes to employment drives home Australia’s bipartisan indifference to the poor.

Crikey

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Employment white paper to deliver more highly qualified workers in net zero, care and digitisation

The government will commit $41 million for technical and further education and “higher apprenticeships” when it releases its white paper on employment on Monday.

The Conversation

Living in the 70s: why Australia's dominant model of unemployment and inflation no longer works

As we approach the release of Monday’s employment white paper we can expect to hear a lot about something called the NAIRU – the so-called Non-Accelerating Inflation Rate of Unemployment.

The Conversation

We can and should keep unemployment below 4%, says our survey of top economists

Australia’s leading economists believe Australia can sustain an unemployment rate as low as 3.75% – much lower than the latest Reserve Bank estimate of 4.25% and the Treasury’s latest estimate of 4.5%.

The Conversation

Michael Pascoe: Speech shows RBA clueless on employment

You can rely on the Reserve Bank to miss or downplay a major factor or two when it strays into what’s actually happening in Australia.

The New Daily

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Michael Pascoe: How the RBA is making inflation worse

Is there a better example of the deficiencies of monetary policy than the RBA prolonging higher rent inflation by lifting rates to theoretically reduce inflation?

The New Daily

Alan Kohler: The undemocratic independent Reserve Bank

Politicians refer so often to the “independent” Reserve Bank that its initials should change to the IRBA, writes Alan Kohler.

The New Daily

Many jobs summit ideas for lifting wages don't make sense – upskilling does

This article is part of The Conversation’s series looking at Labor’s jobs summit. Read the other articles in the series here.

The Conversation

Michael Pascoe: ‘Everyone’ was wrong about wages – and they may be again

Workers don’t think their boss is open to giving a fat pay increase, writes Michael Pascoe. Fears of a a wage-price spiral are well overblown.

The New Daily

Hip pocket relief in sight if forecasts are right

According to economic theory, Australia’s current sustained period of unemployment will push inflation up. The government’s budget claims the opposite.

Crikey

Alan Kohler: Australia is an over-borrowed building society

The RBA is trying to drive unemployment as low as possible and ignoring an economic mainstay in the 'NAIRU'. And high household debt is playing a part.

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