Wage/unemployment trade- off hasn’t changed in Australia
R² = 0.75 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 9 101112131415161718192021 UNDERUTILISATION RATE % WAGE GROWTH AND LABOUR UNDEREMPLOYMENT RED MARKER IS LATEST OBSERVATION. R² = 0.87 UNDEREMPLOYMENT RATE VERSUS PRIVATE SECTOR WAGE PRICE INDEX (INCLUDING BONUSES). DATA FROM 1998. DATA FROM Q2 2020 2014-19 Q2 '20 DATA TO Q1 2020
0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0
1
Sources: ABS
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