In an article published in the Reserve Bank’s Bulletin in September last year, two of my colleagues looked at the current pace of structural change in the Australian economy compared with that in the past.2 Their conclusion was that, with one notable exception, the rate of structural change is not especially high at present, although it is above average.
2  See Connolly and Lewis (2010), “Structural Change in the Australian Economy”, RBA Bulletin, September, pp 1–5. 6  BIS central bankers’ speeches  One reason that they draw this conclusion can be seen in a long-run graph of employment shares by industry (Graph 8).