Australia's central bank confident in upbeat labour data
SYDNEY, March 26 (Reuters) - Australia's central bank is
confident that strength seen in domestic jobs data can be
trusted since it comes from a range of independent sources,
dismissing concerns the health of the labour market might be
Reserve Bank of Australia (RBA) Assistant Governor Luci
Ellis also pointed a finger at the tax man as one reason for sub
par growth in incomes and consumption in recent years, even as
employment stayed firm.
"For all of the past six years, growth in tax paid has
exceeded income growth by an above-average margin, at a time
when income growth itself has been slow," said Ellis, who heads
the bank's economics department.
She cited a range of reasons for this shift, including
compliance efforts and technological progress in tax collection.
Ellis said the bank was still trying to reconcile the
softness of household consumption with the strength of the
"The labour market has unambiguously improved," she said.
"One can be reasonably confident in the steer the labour market
data are giving us, because it is coming from multiple,
independently collected data sets."
"Many of our own liaison contacts also tell us that they are
(Reporting by Wayne Cole;
Editing by Sandra Maler)
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