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Treasury outlines lessons from JobKeeper

JobKeeper kept people in work and prevented widespread business failures during the coronavirus pandemic, but in future crises the Government should consider improvements, including a tiered wage subsidy, according to Treasury's evaluation of the landmark scheme.

Inflation genie refusing to get back in bottle: ABS

Annual consumer price inflation of 5.4% continues the fall from last year's near-8% high, but monthly figures are heading in the wrong direction, according to ABS quarterly statistics released today.


Limited wage-price spiral risk: IMF to RBA

The highly-orthodox IMF has told the RBA's annual research conference that it is "hard to find" recent wage-price spirals across advanced economies and that pay acceleration "should not be seen as a sign" that the corkscrew feared by the central bank "is taking hold", in a session in which new board member and former FWC president Iain Ross led discussion.


Secure Jobs changes might remove need for unpaid carer boost: PC

The PC has confirmed its provisional view against augmenting unpaid carer's leave and says the Albanese Government's Secure Jobs changes will "make it easier for carers to negotiate flexible work, perhaps obviating the need for extended unpaid carer leave".

Mining and agriculture skewed productivity debate: PC

Productivity has far exceeded wage growth in mining and agriculture, but they have largely expanded together across the rest of the economy, and "productivity remains the key to continued wage growth and long-term prosperity", according to a new Productivity Commission report.


Participation set to drop over next 40 years: IGR

Labour force participation is likely to drop from a near-record high of 66.6% to 63.8% over the next 40 years, although the projected reduction might be offset if older, female and migrant workers make a bigger contribution, according to the Albanese Government's first five-yearly Intergenerational Report.

Private sector rises flatlining: ABS

In figures that don't align with the RBA's warnings about a wage-price spiral, new ABS figures show private sector rates of pay excluding bonuses are rising at an unchanged 3.8% a year.