A leading economist has warned Australia is in a "self-fulfilling cycle" of low productivity and wages growth after today's CPI figures showed year-on-year inflation almost flatlining at just 1%.
Annual growth in rates of pay excluding bonuses in the private sector has dropped to a new record low of just 1.9% in trend terms, according to the ABS.
IR barristers appointed to Federal Circuit Court; FWC member retires after almost 15 years; Wage rises lower in industries hit by resources downturn, says RBA; New FAAA leadership seeking to secure role in new Qantas aircraft; Agreement delivers wage justice for nurses, says Victorian Government; and Supermarket self-service hindering employment growth, says report.
Wage growth in private sector federal agreements approved by the FWC in the December quarter of last year dropped to a new 24-year low, according to the Department of Employment.
The union that represents cleaners, disability care workers and security guards is asking the FWC to "convene a special process" in the second half of the year to determine whether it can set a "medium-term target" for the minimum wage, to arrest what it says is a long-term downward trajectory.
Resources minister says project agreements worth considering; Workers have "right to know" how transition from fossil fuels will be managed, says Burrow; Public and private sector IT professionals' pay rises "diverging"; and Queensland Parliament rejects LNP bid to reverse entry rules.