On this basis, wages are rising and employee income is following a moderate increasing trend. However, the background to this increase in the active job openings-to-applicants ratio is not only the improvement in the business cycle but also labor shortages due to the decline in and aging of the population, which is more than ten years ahead of the national trend.
In addition to briefing the Board members on the BOU's current Risk management framework including Business Continuity arrangements it is management's expectation that the Board will decide a framework that will best facilitate its oversight of the Risk Management function in the BOU including the manner in which risk management issues in the BOU should be reported to the Board of Directors of the BOU.