The sweet spot in the economic cycle, the bit where workers' wages usually rise, is over already. How was it for you?

After more than a decade of economic growth and low unemployment, where is that long-promised wage growth?

Today's new figures confirmed that while unemployment remains near record lows, wage growth remains missing in action.


The unemployment rate of 4.2 per cent was just shy of a 10-year record low (we hit 4 per cent in September).

The rate is stable at levels economists sometimes describe as "full employment".

In other words, the economy is near capacity and