ACTU wrong on wages
25 Jul 2018 | Archive
“It’s wrong for the ACTU to claim the wage setting system is failing working people,” Australian Chamber of Commerce and Industry CEO, James Pearson, said today.
“Wages set by the Fair Work Commission have risen by or above inflation during its 9 years of operation.
“These increases have seen Australia deliver one of the highest minimum wages in the world.
“The ACTU is cherry picking the inflation and wages data by comparing June inflation to March wages growth.
“The reality is that at the beginning of July this year almost a quarter of the workforce saw their wages go up by 3.5% as a result of the Fair Work Commission’s most recent wages decision.
“This is significantly higher than the increase in inflation.
“This means the current system is delivering sustained real wage increases.
“This puts real pressure on small businesses and job,” Mr Pearson said.
“Small businesses account for a large share of award wage employment in Australia.
“Some of the least resourced and most at risk businesses are asked to pay out more than they can charge their customers, year in and year out.
“Low inflation means that increases in minimum wages are real increases, but employers can’t pass on increases in a highly competitive market.
“Whilst inflation remains low, spikes in the cost of fuel and electricity hit businesses and households hard.
“Rather than passing these costs on, business are absorbing them,” Mr Pearson said.
“Over 60 percent of small business operators are finding it particularly tough, taking home less than $50,000 each year.
“The latest data also shows bargained wages in the private sector going up 2.8% – well above inflation. Annual wage growth (measured by the ABS Wage Price Index) across all forms of wage setting has exceeded prices growth 6 times in the past 8 quarters.
“If the ACTU wants to see even higher wage rises, they need to work with business to find ways to grow the economy, to help attract investment and sustainably deliver more well-paying jobs.”
Related News
Jobs and wages figures positive; business challenges remain
16/08/2018
The Australian Bureau of Statistics reported today that total jobs fell by just under 4000 in July, following an increase of around 58,000 in June. While total...
Business Women Champions of the Heart launches in Sydney today
15/08/2018
The Heart Foundation has joined forces with the Australian Chamber of Commerce and Industry to launch “Business Women Champions of the Heart”, the nation’s first...
Australian Chamber calls on State and Territory Governments to endorse NEG
14/08/2018
The Australian Chamber of Commerce and Industry welcomes the passage of the National Energy Guarantee (NEG) through the Federal Coalition party room. “Business wants politicians...
Bureau of Statistics out of touch with workforce change
14/08/2018
The recent decision by the Australian Bureau of Statistics (ABS) to not review the classification of jobs in Australian workplaces puts at serious risk the accuracy...
COAG: Urgent agreement needed on NEG
10/08/2018
The Australian Chamber of Commerce and Industry welcomes the decision to release a draft of legislation for the National Energy Guarantee next week and keep momentum...
Latest VET figures show significant decline
9/08/2018
The further decline in government-funded students studying Vocational Education and Training (VET) as illustrated by the latest figures from the National Centre for Vocational Education...
Victory on energy can only be won through compromise
9/08/2018
An opinion editorial by Australian Chamber CEO James Pearson Australia’s political tribes are approaching tomorrow’s COAG meeting on the National Energy Guarantee as if it...
Business grasps the reality of the debate on Migration
7/08/2018
Skilled migration is a critical element in supporting economic growth and business is absolutely up for the debate about its contribution to delivering benefits to...
Joint Statement - Business and Industry united in calling for an end to energy uncertainty
6/08/2018
Representatives of Australia’s biggest employers, small businesses, the energy industry and the agricultural sector urge federal, state and territory leaders to put aside politics and...
Well informed jobs market key to remedy fall in education expectations
1/08/2018
A well-informed jobs market is key in managing the falling expectations of young people in prospective university or vocational education, the Australian Chamber of Commerce...
A good start but job not done: Fair Work should be much fairer to small businesses
30/07/2018
The Australian Chamber of Commerce and Industry welcomes the Fair Work Commission’s commitment to better support small business but wants more to be done to...
Rising stars go head to head in International Mediation Competition
28/07/2018
The sharpest young legal minds from Australia, New Zealand, India and Singapore will be put to test in the second Asia-Pacific Commercial Mediation Competition in...
Business calls on policy makers to urgently start planning for longer-term growth
24/07/2018
A more holistic approach to long-term infrastructure planning is required to address concerns regarding Australia’s population growth, the Australian Chamber of Commerce and Industry said today....
International Visitors Survey highlights Tourism as Economic and Jobs Powerhouse
19/07/2018
The latest International Visitors Survey for year ending March 2018 reflects an impressive increase of 6% in spend to $42.3 billion, Australian Chamber-Tourism, Australia’s peak...
Jobs growth welcomed by Australian Chamber
19/07/2018
The Australian Chamber of Commerce and Industry has welcomed Australia’s strongest jobs growth in seven months, with 51,000 jobs created in June, according to the...
Australian Chamber welcomes new Australian Made CEO
19/07/2018
The Australian Chamber of Commerce and Industry welcomes Ben Lazzaro’s appointment to Chief Executive Officer of Australian Made. “The Australian Chamber is a founder and...
Cooperation Not Militancy The Way Forward On Industrial Relations
18/07/2018
The Australian Council of Trade Unions (ACTU) Congress missed an important opportunity this week to show that unions understand what Australians want from their work...
New Labor proposal threatens competitive labour hire arrangements
17/07/2018
The Federal Opposition’s plan to increase labour hire regulation risks undermining the flexibility and competitiveness of Australia’s workforce, the Australian Chamber of Commerce and Industry...
New statistics highlight strong growth in Australian tourism market
17/07/2018
New figures on overseas arrivals and departures released today, reinforce the success of the Industry led ‘Beyond 2020’ tourism strategy, Australian Chamber-Tourism, Australia’s peak body for...
ACCC call for lower energy costs welcomed by Australian Chamber
11/07/2018
Calls for reforms to bring down energy prices by the Australian Competition and Consumer Commission (ACCC) have been welcomed by the Australian Chamber of Commerce...