In one encouraging development, the strong labor market has pulled some discouraged workers back into the labor force and into productive employment over the past few years. Also encouraging, our Beige Book and workforce surveys indicate that employers are casting a wider net to find job candidates and investing more in on-the-job training.
These securities provide investors with a guaranteed real return on their investments. The South African Department of Finance has said it is seriously considering the introduction of inflation-linked bonds, and it is worth our reflecting on whether their introduction in this country could help the Reserve Bank in its efforts to gauge inflationary expectations.