Suppressed wage growth and rising inequality pose a threat to both Australia's economy and its political stability, according to former Labor treasurer Wayne Swan, who used a party-sponsored conference on the weekend to confirm that his personal economic settings had been "moved to the left" by the GFC.
Leading online jobs marketplace SEEK has told a Senate inquiry into the future of work that Australians face a "significant shock" as technological forces continue to drive wages down, while the Productivity Commission has warned that digital disruption might ultimately require the introduction of a universal basic income.
United Voice is today staging a protest outside a Melbourne restaurant at the centre of a bartender's underpayments claim and says its investigation of the state's hospitality sector exposes the city as the "wage theft capital of Australia".
The Workplace Gender Equality Agency says "remarkable" growth in employers analysing their data for gender pay gaps means more than half now have formal strategies to address imbalances, but its annual scorecard reveals the overall $26,527 gender pay gap has decreased only marginally.
Private sector rates of pay excluding bonuses are growing at 1.9% a year in trend terms, up from the recent historic low of 1.8%, according to the ABS.
Superannuation fund directors might have a duty to oppose "aggressive" employer strategies, such as unilateral agreement terminations, that suppress wages and reduce accumulation of retirement income, according to a new report by the Centre for Future Work.
While retreating from his much-hyped "call to arms" for workers to demand higher wages, Reserve Bank Governor Philip Lowe today told a Sydney audience that a continuation of the current period of stagnation in wage growth would have an "insidious" impact on the economy.
Unions are seeking the reinstatement of powers to inspect non-members' time and wages records, after their analysis of 200 job advertisements aimed at Chinese, Korean and Spanish-speakers showed that almost four out of every five pay less than the award.
Treasurer Scott Morrison has declined to support Reserve Bank Governor Philip Lowe's call for workers to push for wage rises, arguing that improved company profits are a surer way to put more money in more pockets.
