The first public policy changes to boost workers' power in more than 30 years - under the Albanese Government - have coincided with an increase in nominal and real wages and a rise in workers' share of the fruits of the economy, according to the Centre for Future Work's David Peetz.
A 9.2% increase to the national minimum wage and award wages would restore low-paid workers' buying power to pre-pandemic trends without significantly affecting inflation, according to research finding no consistent link between minimum wage rises and inflation since 1990.
The ACTU is calling for a 4.5% increase to the minimum wage, well above the current inflation rate of 2.4%, to lift the annual full-time rate by $2,143 to $49,770, while Victoria's Allan Government is making the same pitch as its federal Labor counterpart, calling for a real increase in the minimum wage.
Ahead of the May 3 poll, Prime Minister Anthony Albanese is supporting a real pay increase in this year's minimum wage case, going further than his 2022 election call for the FWC to ensure workers' pay not "go backwards".
The FWC's expert panel has this morning approved a 3.75% increase in all award rates and the national minimum wage, but has rebuffed the ACTU's bid for an immediate additional 4% for workers in highly-feminised industries, instead committing to a timetable to address the issue over the next 12 months.
The Federal Government has made a "technical assumption" that there will be a minimum wage increase of 3.5% this year, the FWC's expert panel heard yesterday, while Commission President Adam Hatcher lamented the "Catch-22" situation the Commission faces in weighing whether Canberra will fund any gender-based increases.
The SDA says its challenge to a Victorian/Tasmanian Aldi deal on the basis that it tries to circumvent new "same-job, same-pay" laws has prompted the company to quietly ditch similar provisions from a proposed SA deal immediately before an unsuccessful ballot.
A FWC full bench has made a provisional ruling in favour of ensuring the lowest pay classification in modern awards is used only for a short period of induction and training, making the second lowest rate the benchmark for continuing employment.
Low Pay Commission research has found that Government policies have driven the UK minimum wage's "bite" of the median up by 9.3 percentage points, while Australia's has increased by less than 0.1 percentage points since 2015, with next month's 9.8% wage floor rise in the old country to bring the minimum up to two-thirds of the median wage.
