Census data shed more light on low inflation

The latest batch of Census data released earlier this week on the labour market cast doubt over the quality of the jobs created since the 2008-09 recession. There are still signs of prime-aged workers being underemployed and more seniors are having to work past traditional retirement age. Unfortunately, economic conditions are likely to become more challenging for the labour market next year. Accordingly, we expect inflation to remain low for the foreseeable future.