Published: October 22, 2018
Everyone talks about unemployment, but to measure wages growth we should pay more attention to underemployment rates
One common criticism of the monthly unemployment figures is that they don’t take into account the level of workers wanting more hours. The ABS has addressed this issue, and from now on along with the monthly unemployment rate we will get a monthly underemployment rate. This will enable us to better track problems in the economy and perhaps get a better sense of when our wages might start to grow faster.
Related: Underemployment is growing, and there is no easy policy fix | Greg Jericho
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