News, media releases, opinions and articles from the Centre for Future Work.
Will “curing” inflation cause a recession?
Right now, the big numbers of the economy look pretty good. Unemployment in June was just 3.5% – the lowest since 1974. So why has consumer confidence crashed and why are so many Australians worried about a recession? Labour market and fiscal policy director, Greg Jericho writes in Guardian Australia that the rising level of…
Profits push up prices too, so why is the RBA governor only talking about wages?
Reserve Bank of Australia governor Phillip Lowe has invoked memories of the 1970s, warning wage growth must be restrained to contain Australia’s surging inflation. In the 1970s, Lowe said last week, “we got into trouble because wages growth responded mechanically to the higher inflation rate”. Now, with inflation above 5%, and tipped to reach 7% by the…
Employer Arguments Against Minimum Wage Boost Don’t Hold Water
The Fair Work Commission has announced an important increase in the national minimum wage, which will rise by $1.05 per hour (or 5.2%) effective 1 July 2022. This represents a significant shift in the debate over wages in Australia, whichi have been languishing for years — and are now falling in real terms. Even with…
Exit Poll: Overwhelming Majority of Australians Want Wage Growth in Line with Cost of Living
New polling data shows that the vast majority of Australians support lifting wages to keep up with rising inflation. The Australia Institute conducted a special exit poll, surveying a nationally representative sample of 1,424 Australians on the evening of Saturday May 21, following the federal el…
The recovery needs to deliver for workers
The latest labour account survey released by the Bureau of Statistics revealed that while job growth remains solid and the job vacancy rate is at record levels, workers real incomes remains at best flat. As we now enter a phase where the Reserve Bank is raising interest rates in an effort to reduce demand in…
Enterprise Bargaining System no Longer Fit for Purpose
The collapse in agreement coverage under Australia’s enterprise bargaining system in Australia in recent years, particularly in the private sector, has focused attention on the need for reforms that will give more workers the effective ability to collectively negotiate better wages and conditions. In the private sector, coverage by a current enterprise agreement has fallen…