Wages
The Wage Price Index came out yesterday and showed labour costs rising at a slower pace just as the RBA anticipated.
So much for a more regulated labour market. If one examines labour costs, strikes or employment statistics there is NO evidence of a more regulated labour market indeed quite the opposite!
Gerry Henderson needs to read this. His fears that on-costs have climbed substantially in recent years because of a more regulated labour market are without foundation. It seems the Hendersons are exceptionally poor at reading statistics!
Parliament
John Quiggin has beaten to it. ( Well blogging is part of his job isn't it!) Parliament started yesterday and it was a fiasco.
I might claim the Paul Atreides prescient award as I said Bronwyn Bishop would be an embarrassment, Scott Morrison would look foolish and Joe Hockey look ordinary.It was all rather easy to predict.
Just on Joe he apparently doesn't know the only changes to MYEFO and PEFO are to economic parameters and new government programs. We all know the true state of the books. Perhaps someone hasn't told him!
It was a pretty ordinary start for the new Government, easily the worst i have ever seen or heard but it early days and all this doesn't count in the electorate..
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