Reserve Bank of Australia's Alexandra Heath is head of economic analysis
- unemployment rate still main measure of spare capacity
- but labour market more complex than textbooks suggest
- more work to do on how to measure spare capacity
- need to improve our ability to forecast wages growth
- increased availability of flexible work arrangements has affected spare capacity
- underemployed, marginally attached workers add to spare capacity
The quick headline summary is via the folks at Reuters, but if you want more, the full text is here:
