Superannuation fund directors might have a duty to oppose "aggressive" employer strategies, such as unilateral agreement terminations, that suppress wages and reduce accumulation of retirement income, according to a new report by the Centre for Future Work.
While retreating from his much-hyped "call to arms" for workers to demand higher wages, Reserve Bank Governor Philip Lowe today told a Sydney audience that a continuation of the current period of stagnation in wage growth would have an "insidious" impact on the economy.
Unions are seeking the reinstatement of powers to inspect non-members' time and wages records, after their analysis of 200 job advertisements aimed at Chinese, Korean and Spanish-speakers showed that almost four out of every five pay less than the award.
Treasurer Scott Morrison has declined to support Reserve Bank Governor Philip Lowe's call for workers to push for wage rises, arguing that improved company profits are a surer way to put more money in more pockets.
A Senate Committee's call for a target date for full gender pay equity has been seized upon by the union pursuing a four-year long equal-remuneration case before the FWC, but found little support from business or Government members on the Labor-dominated committee.
The Fair Work Commission today conceded that inflated concerns about the impact of minimum wage increases on employment may have led to it being "overly cautious" in past rulings.
As the FWC minimum wage panel draws closer to a determination in its annual review, a discussion paper based on surveys of more than 700,000 "lesser skilled" Americans has questioned whether policymakers need to consider mechanisms other than minimum pay rates as a means of improving health outcomes for low-paid workers.
Average pay rises in private sector agreements struck in last year's December quarter returned to the recent trend of about 3% a year, according to new Department of Employment data.
The RBA has conceded its forecasts for wage growth have been "consistently too strong" for at least the past five years, but says there is limited evidence that the low rises are due to workers’ declining bargaining power.
