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. Matt and Ross
    09.06.2021
    09.06.2021
    by      In , In
    Simple, high-quality coffee is revered in Italy. So when an Australian of Italian heritage, who has been involved in the coffee business most of his life and visits Italy regularly, tells you that Australian roasted coffee is the world’s best, you sit up and take notice. And when he goes on to tell... Read More
  2. Files
    17.05.2021
    17.05.2021
    by      In , In
    Today’s businesses have no room for complacency; they must be fastidious right across their operations. The systematic drive for thoroughness is captured in one underappreciated word: compliance.
    At first brush, compliance can seem like a big and vague concept, detached from immediate business... Read More
  3. coins
    12.05.2021
    12.05.2021
    by      In , In
    "From an industry perspective, the Government's second budget in a year locks in the recovery from recession and shifts gears from emergency measures to investing in the economy for the longer term," says Innes Willox, Chief Executive of the national employer association Ai Group.
    He described it... Read More
  4. Lab
    05.05.2021
    05.05.2021
    by      In , In
    Newly launched space startup Quasar Satellite Technologies is set to revolutionise space communications, using radio telescope technology developed by the CSIRO. 
    With more than 57,000 satellites set to be launched by the end of the decade, Quasar is creating a world-leading ground station service... Read More
Products
Suppliers