BIS central bankers’ speeches  Graph 5  The relatively weak state of overall labour demand over the past couple of years has been evident in measures of employment intentions, job vacancies and advertisements. Some of these have shown signs of improvement of late, but they remain at relatively low levels.
1/3  BIS central bankers' speeches  This is also reflected in two general recommendations of the Financial Stability Board (FSB) that aim to guide the reform of the reference rate and the transition to alternative benchmarks.2 The first recommendation is to strengthen existing benchmarks by underpinning them with transaction data to the greatest extent possible.