The RBA is continuing to warn about the dangers of a wage-price spiral, saying the chances of it have declined, but could rise again if the FWC awards a "large" minimum rise this year or government employers ease or drop pay caps.
The Albanese Government has outlined for the first time the details of how it might implement its "same job, same pay" proposal that it framed to ensure labour hire arrangements are not used to undercut employees' pay and conditions.
The FWC's minimum wage review should order an increase that exceeds inflation, providing a real wage rise for the lowest paid, according to UWU national secretary Tim Kennedy.
Multi-year enterprise agreements, flaws in the "standard" Wage Price Index measure and public sector pay caps partially explain recent low wages growth, which would otherwise have been up to one percentage point higher last year, according to new university analysis.
Agreements filed with the FWC for approval in the first half of February delivered an average pay rise of 3.1% a year, according to "real-time" data released this morning.
Private sector rates of pay increased to 3.6% annually in the December quarter, up from 3.4% in the previous three-month period, according to the ABS, but relatively low public sector rises have restricted the economy-wide movement to 3.3%.
Wages in private sector agreements approved in the September quarter remained stuck at 2.9% a year, defying labour shortages and inflationary pressure, according to DEWR data.
Enterprise agreements filed with the FWC in the fortnight to November 18 paid average annualised wage increases of 3.4%, substantially outpacing the 2.8% rises in DEWR's data for June quarter agreements but well below consumer price inflation of about 7%.
The gender pay gap is stuck at 22.8%, while more than 40% of employers that analysed the disparity between men's and women's pay in their workplaces over the past year took no action, according to the Workplace Gender Equality Agency's latest scorecard.
