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'Natural' unemployment rate could fall, say economists

Feb 08, 2018 (The Australian Financial Review - ABIX via COMTEX) --

Australia's official unemployment rate is currently 5.5 per cent, which Jeff Borland from the University of Melbourne says is higher than the non-accelerating inflation rate of unemployment (NAIRU). He argues that factors such as declining union membership and changes in bargaining power could potentially allow the unemployment rate to fall while avoiding a sharp rise in wages. The Reserve Bank has estimated that the NAIRU fell to about five per cent in 2017, compared with six per cent in 2003, although other economic modelling shows some variations in the NAIRU..

Publication Date: 9 February 2018

UNIVERSITY OF MELBOURNE
RESERVE BANK OF AUSTRALIA
UNIVERSITY OF CALIFORNIA
GOLDMAN SACHS AUSTRALIA PTY LTD

By David Marin-Guzman

Copyright 2018 Roy Morgan Research. All Rights Reserved.

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