Central to the propositions made in the NDP related to the jobs market, is the statement that over a 20-year horizon wage growth needs to be linked to productivity growth as it is not feasible to sustain a labour absorbing path, unless both are growing in tandem.
Glenn Stevens: Developments in financial regulations Address by Mr Glenn Stevens, Governor of the Reserve Bank of Australia, at the Annual Dinner of the Australian Business Economists, Sydney, 8 December 2009.