UK full employment
The UK unemployment rate fell to 3.8 per cent according to the July to September 2019 report, which is essentially as low as we've seen since 1975.
The employment rate was 76 per cent, which is also just a notch below the highest level we've ever seen over more than four decades.
And look at those wages go:
Of course, the UK is about to nobble itself right in the ol' foot with the Brexit debacle, so the economy will now go through another lull (indeed growth is already plumbing the slowest levels in a decade).
But it's interesting to note how the commitment to full employment has paid off in terms of rising incomes.
Australia's wage price index or Q3 will be released on Wednesday, and the market median forecast is for wages growth of just 2.2 per cent.
If we're lucky in might come in at 2.3 per cent.
Not unrelated: on November 26 Reserve Bank Governor Lowe will speak on unconventional policy options and some lessons from overseas.
