Treasurer Jim Chalmers has bowed to union pressure and rejected the Reserve Bank's technical 4.5 per cent unemployment target. The long-awaited employment white paper is set to deliver sustained and inclusive full employment. The white paper acknowledges the union's complaints, declaring everyone who wants a job should be able to find one. It comes in the wake of heavy criticism from workers' representatives after the former RBA governor Philip Lowe claimed unemployment will have to rise to bring inflation under control. September saw the RBA hold interest rates at 4.1 per cent as it continues to monitor inflation.
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