Despite the Government reassuring workers that wage growth is just around the corner, a leading investment bank has warned that even its most far-reaching forecasts show no meaningful change in the unemployment rate.
Economists at big investment bank JP Morgan argue the run of solid jobs growth is now basically over.
"We think the unemployment rate is going to stay well within that very tight 5.4 to 5.6 per cent range for the next little while," JP Morgan chief economist Sally Auld said.
And, she said, it's unrealistic to expect the Reserve Bank can do anything about it.