A much more flexible labour market has been invaluable in adjusting to the shocks of recent years. (rba.gov.au)
The combination of the high exchange rate, a record of low and stable inflation and a relatively flexible labour market means that while demand for labour, and the growth of wages, has been higher in the resource and resource - related sectors, this has not led to a significant increase in wages in Australian dollar terms across the economy as a whole. (rba.gov.au)
France has the G7's least flexible labour market, and a 10 % unemployment rate. (economist.com)