Real labour costs plummet as profits share soars; Police hit with $85K costs for "naïve" union prosecution; Slow wage growth "no puzzle" for employers: PC.
A senior FWC member has told an IR conference that problems associated with a "radical disjunct" between the common law and award definitions of casuals will "snowball" if not resolved, while the cause of stunted wage growth in the face of strong labour market conditions lies beyond orthodox thinking.
The Australian government needs to shake up the regulatory framework governing workplaces and competition if the country is to reignite wage growth and capitalise on the opportunities presented by the digital economy, according to an OECD report.
Annual growth in private sector rates of pay excluding bonuses has hit a four-year high for the second successive quarter, rising 2.4% to March, according to ABS data released today.
The Victorian Labor government has flagged it will aim for modest annual pay rises of 2%, setting the scene for an arm-wrestle with public sector unions in bargaining over a series of major enterprise agreements.
The Reserve Bank has pointed to the concentration of cutting-edge software and information technology in a small number of businesses and narrow labour market segments as a factor behind flat wages growth.
Leading online jobs marketplace SEEK has told a Senate inquiry into the future of work that Australians face a "significant shock" as technological forces continue to drive wages down, while the Productivity Commission has warned that digital disruption might ultimately require the introduction of a universal basic income.
The "near disappearance" of industrial action over recent decades is strongly correlated with the "deceleration" of wages growth, according to the new analysis released by the Centre for Future Work just days after the FWC halted the planned Sydney train strike.
