But clearly more has to be done to attract people into the occupations where skill shortages are most acute, and to train them without unnecessary delay. I do not profess to be an expert in this important area and do not want to lecture the Federal and State Governments on this issue, which I know is already absorbing a lot of their attention.
This process of slowing demand and expanding capacity has been going on for several years, but it has not prevented some general upward pressure on producer and consumer prices. This was brought home to the public with the publication of the June quarter CPI.