Why the RBA got it wrong on immigration and wages
Why the RBA got it wrong on immigration and wages More migrants do not mean lower wages. The real picture is much more complex than the political debate allows for. Share Reserve Bank of Australia governor Philip Lowe opened a can of worms last week on the Big Australia debate, surprisingly claiming immigration was one of several factors that had contributed to weak wages growth over the past decade. On cue, but somewhat taking Lowe’s comments out of context, anti-immigration One Nation leader Pauline Hanson tweeted the governor’s headline remarks. Immigration often creates complimentary ...