WATCH LIVE: Daniel Andrews makes Commonwealth Games announcement; the Victorian government has reportedly decided not to go ahead with the $2 billion games because of funding issues. Follow updates here.
Sally McManus has called on the Reserve Bank of Australia to update its understanding of full unemployment, arguing low unemployment throughout the pandemic failed to drive wages growth.
“[The RBA has] this theory that says that 4.5 per cent is the point of unemployment. That means that wages won’t be pushed up,” McManus told ABC’sDominic Lorrimer“We’ve had unemployment much lower than 4.5 per cent. It’s gone below 3.5 per cent and wages haven’t gone up as a result.
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