[8] New and young firms also contribute disproportionally to job creation relative to their share in employment. [9]  Unclogging the innovation channel requires us to improve the ways in which our markets allocate resources, both within and across countries. In my view, there are three areas which need particular attention.
In an absolute sense, actual and expected inflation is too high and needs to be reduced. However New Zealand is in a strong macroeconomic position relative to most OECD nations. Chart 2 – International Inflation and Unemployment Rates  Note: The data are sourced from the OECD database.