none

MODEST MINIMUM WAGE INCREASE WARRANTED: INDUSTRY GROUP

02-04-2016
by 
in 

A modest wage increase of 1.6 percent, equating to about $10.50 a week or $12.25 a week at the base trade level is warranted, says the Australian Industry Group.

In its submission to this year’s Annual Wage Review, Australian Industry Group Chief Executive, Innes Willox, said when all the relevant factors are weighed up a modest wage increase is justified.

This is based on a number of factors, including:

·       The fact that economic growth remains patchy across sectors and across locations, with aggregate business incomes, profits and investment still underwhelming.

·       Australia’s lack of global competitiveness and very high minimum wage compared to other comparable countries.

·       The fact that Australian (and global) inflation rates have been exceedingly weak for some time. 

·       The fact that Australia’s wage price index (WPI) fell to its lowest annual growth rate on record in December 2015.

·       The fact that one in every seven members of the workforce (i.e. well in excess of two million people) are currently either unemployed or underemployed. 

“It is important that the Expert Panel not put the interests of those in secure jobs ahead of the needs of those searching for jobs, or for more work, Mr Willox said.

“The Panel needs to fully take into account the needs of those whose jobs will be threatened (including many low paid workers) if an excessive minimum wage increase is awarded.” 

Related news & editorials

  1. 08.01.2019
    08.01.2019
    by      In
    Despite having finished 2018 with one of the most positive outlooks in the last 7 years, employers across the manufacturing sector are reporting a more cautious outlook for recruitment in Q1 2019, according to ManpowerGroup.
    The ManpowerGroup Employment Outlook Survey collects data from more than... Read More
  2. 08.01.2019
    08.01.2019
    by      In
    The two-year-plus “bull run” of the Ai Group’s Performance of Manufacturing Index came to an end in December, with the overall Australian PMI figure slipping below 50 for the first time since October 2016. The index fell 1.8 points to 49.5 in December, a result described by Ai Group Chief Executive... Read More
  3. 03.12.2018
    03.12.2018
    by      In
    Australian manufacturing continues to grow, according to the Ai Group’s latest Performance of Manufacturing Index, but the figures show some worrying signs. The Australian PMI for November 2018 remained in positive territory at 51.3, but at a full seven points below the previous month, this is the... Read More
  4. 20.11.2018
    20.11.2018
    by      In
    All Australian states and territories recorded an increase in gross state product in 2017-18, according to the latest figures from the Australian Bureau of Statistics. The ACT, Victoria, Queensland and Tasmania exceeded the national gross domestic product growth rate of 2.8%, while New South Wales... Read More