The risk of Australia experiencing a wage-price spiral is "quite low" thanks in part to the diminished "pricing power" of workers and the central bank's focus on inflation targets, a new RBA report asserts.
Teleworking, retraining and enhanced collective bargaining could lift pay growth that has been constrained by Australia's relatively "monopsonistic" labour market that gives a few dominant employers the upper hand in wage-setting, according to the OECD.
A leading gender and IR expert says Australian policymakers should "pay attention" to a UK parliamentary inquiry's recommendation that the Johnson Government make menopause a protected characteristic under anti-discrimination laws and that employers implement more menopause-friendly policies.
The FWC has promised today to provide "real-time" data on bargained pay rises, with plans to issue fortnightly reports on wage movements in enterprise agreement approval applications, with the first "proposed report" showing a 3.2% average annualised rise in the first two weeks of July, well ahead of the last official departmental number for the March quarter of 2.7%.
Private sector rates of pay increased by 2.7% annually in the June quarter, lifting off historic lows but failing to make much of a dent on surging inflation.
In the wake of the RBA governor's warning about the risks of a wage-price spiral, new A-G's department data shows that bargained pay rises are flatlining at 2.7% a year in the private sector, rising at little more than half the 5.1% rate of headline consumer price inflation.
A new RBA report says that greater job mobility tends to be associated with higher individual and aggregate wages and makes it clear the "great resignation" is a distinctly American and British phenomenon.
NSW's Perrottet Government has raised its 2.5% wage ceiling to 3% next financial year and up to 3.5% in 2023-24, in the face of incomes falling behind consumer price inflation and unions taking industrial action seeking to scrap the cap.
Universities should tap into renewed, pandemic-fuelled interest in technology's effects on job satisfaction and productivity by offering related courses to employers and unions, say an international trio of leading HR and workplace academics.
