Ahead of its appearance today before the Senate inquiry into the Omnibus IR Bill, the Centre for Future Work has warned that as Australia experiences an unprecedented period of low pay growth, the legislation's changes "will exert additional downward pressure".
The RBA is warning that wage growth won't be "materially higher" for at least three years, while Centre for Future Work analysis suggests that the proposed Omnibus Bill provision permitting approval of BOOT-failing agreements will further hamper any recovery in pay rises.
Pay rises in private sector agreements approved in the June quarter reached 3% for the first time in 18 months, despite the effects of the coronavirus pandemic, according to Attorney-General's Department data bedevilled by an inability to quantify increases for 76,000 workers.
The FWC will today hold its final hearing in this year's minimum wage review, in which employers and unions are divided over whether the domestic economy has started to recover from the coronavirus pandemic shutdown.
The NSW Government has taken off the table its offer of a $1000 "bonus" and job guarantee in lieu of a pay rise for frontline public servants, as it pursues the freeze in the NSW IRC, following a disallowance motion in the Upper House.