What the budget means for Australian jobs

Employment growth will likely continue at a moderate pace to 2015, but the outlook becomes more pessimistic after that. And budget cuts, coupled with low wage growth, will see consumer confidence take a hit.

For all the political theatrics -- the talk of deficit taxes, welfare cuts, and Boston Legal-style cigar smoking -- what Australians really want to know is: what will happen to my job? How will this impact my job security?

On Friday last week the Reserve Bank of Australia released its Statement on Monetary Policy, which contained an interesting section on the relationship between economic growth and measures of employment and wages.

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