Recent indicators of employment, such as a decline in the unemployment rate and an improvement in the active job openings-to-applicants ratio, suggest that there is a clear sign that the labor market is improving (Slide 16). This will further contribute to an increase in total earnings by employees (Slide 17).
For its part, the CBB has over the past year continued to refine and implement the completely new regulatory framework that was developed following the creation of a single regulator in 2002, and implemented from 2005 onwards. Comprehensive solvency reporting by insurance firms has now been rolled out, as have on-site examination visits.