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The Latest Breaking News from NAIRU

The RBA’s policy deliberately creates unemployment. So why do we treat the jobless so badly?

The Reserve Bank of Australia (RBA) will look at the latest unemployment figures – 4.3%, roughly 650,000 people out of work – and see a labour market that is still “too tight”.

The Conversation · Apr 19

Rates cut at last but 'no victory on inflation yet'

Australia's big four banks are already promising to pass interest rate cuts on in full after the Reserve Bank lowered the cash rate by 25 basis points.

AAP · Feb 17, 2025

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 · Jan 16, 2025

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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 · Sep 24, 2023

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 · Sep 19, 2023

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 · Aug 13, 2023

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 · Jun 20, 2023

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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 · Apr 28, 2023

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 · Feb 12, 2023

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 · Aug 24, 2022

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 · Jul 15, 2022

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.

The New Daily · Feb 6, 2022

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