News // Economics
November 2023
Employers Steal More than 280 Hours from Workers Each Year: Go Home on Time Day Report 2023
Despite record-low unemployment, Australian employers are still managing to steal more than 280 hours from their employees each year.
After two years of profit-led inflation, workers deserve the pay rises they are getting
The wage rises for low-paid workers on awards and those working in aged care helped drive the strong wage growth.
The Government needs to act on Stage 3 as the RBA warns about wealthy households spending
The RBA made it clear one group continues to do well, and continue to spend – and they are also the ones who are about to get a massive tax cut.
When the prices of necessities are rising fast, the RBA does not need to hit households with another rate rise
Cost of living rose by more than inflation because of interest rate rises. Another rate rise would only cause more unnecessary pain.
October 2023
The Reserve Bank should not raise rates on Melbourne Cup Day
Inflation is being driven by things unaffected by interest rate, so there is no reason for the RBA to raise rates in November
The latest report from the IMF highlights the need for full-employment to be the aim of the government and the Reserve Bank
If the economy grows as slowly as the IMF predicts it will for the next 2 years, Australia will be lucky to avoid a recession.
Insecure work is a feature of our labour market. New laws can change that.
Chris Wright is Associate Professor in the Discipline of Work and Organisational Studies at the University of Sydney, and a member of the Centre for Future Work’s Advisory Committee. This commentary is based on his submission to the Senate Education and Employment Legislation Committee’s inquiry into the Fair Work Legislation Amendment (Closing Loopholes) Bill 2023,
September 2023
Inflation remains headed in the right direction despite higher oil prices
Increases in the prices of commodities like oil and gas are not a reason for the RBA to raise interest rates next week
Opening statement to the ACTU Price Gouging Inquiry
This week Professor Allan Fels, the former head of the Australian Competition and Consumer Commission (ACCC), has begun an inquiry into price gouging across a range of industries, including banks, insurance companies, supermarkets, and energy providers. The inquiry commissioned by the ACTU comes off the back of the highest inflation in 30 years and the biggest falls in real wages on record.
Deteriorating Disability Worker Pay, Conditions Undermining NDIS
An urgent overhaul of poorly paid and casualised disability support work is needed to ensure the National Disability Insurance Scheme’s viability and protect participants from substandard care, a new report by the Australia Institute’s Centre for Future Work says.
Corporate Profits Must Take Hit to Save Workers
Historically high corporate profits must take a hit if workers are to claw back real wage losses from the inflationary crisis, according to new research from the Australia Institute’s Centre for Future Work.
Millionaire Tim Gurner’s Refreshing Honesty Reveals the Soul of Business
Every now and then a window opens into the soul of the business community, and we catch a glimpse of the values and goals that shape the actions of the captains of industry.
New laws for ‘employee-like’ gig workers are good but far from perfect
The Workplace Relations Minister Tony Burke has described proposed new laws to regulate digital platform work as building a ramp with employees at the top, independent contractors at the bottom, and gig platform workers halfway up. The new laws will allow the Fair Work Commission to set minimum standards for ‘employee-like workers’ on digital platforms.
The weak economy shows the Reserve Bank is not threading the needle
We have now had two consecutive quarters of GDP per capita falling – hardly the soft landing the RBA wants.
August 2023
Urgent Need for Australia’s Climate Industry Policy
For the first time in decades, Australia is talking about industry policy.
Report Reveals True Potential of Fully Funded Public Schools
A new report from the Australia Institute’s Centre for Future Work is calling for increased investment in public school funding to lift flagging school completion rates and spark economic growth.
For most workers, wages are still failing to keep up with inflation
While overall wages grew in line with inflation in the June quarter for workers in most industries real wages are still going backwards.
Australia at risk of exclusion from renewable manufacturing boom
Australia risks being left out of lucrative new markets for renewable energy-related manufacturing unless government provides an urgent, domestic response to match powerful incentives introduced by the U.S and several other industrial nations. The finding is published in a new report released today by the Australia Institute’s Centre for Future Work, as part of the
July 2023
We need more than a definition change to fix Australia’s culture of permanent ‘casual’ work
The surprising thing about the Albanese government’s announced reforms to “casual” employment is not that they’re happening.
Inflation is falling so let’s make sure we don’t let unemployment rise
Inflation is coming down fast so we should now shift our attention to making sure unemployment does not rise
Hollywood actors showing that unity is strength
When workers are united, and able to collectively bargain, they can win good outcomes
The key legislation changes that will help workers get a better deal
In recent years, workers have been held back from demanding better working conditions and pay by a lack of bargaining power.
If the unemployment rises to 4.5% who is likely to lose their job?
The RBA is currently targeting a 4.5% unemployment rate, and that is going to hurt young, low skilled and low paid workers,
Australian and Global Union Leader Sharan Burrow to Deliver Second Annual Carmichael Lecture
Former Australian Council of Trade Unions president Sharan Burrow will deliver the second annual Carmichael Lecture on August 16. Ms Burrow, who was ACTU president for a decade from 2000, was also general secretary of the International Trade Union Confederation between 2010 and 2022. She will speak on the topic ‘Global Worker Solidarity for a
June 2023
Bolstered by a biased tax system, house prices keep rising
As interest rates rise, the gains from negative gearing increase.
Blame Game on Inflation has Only Just Begun
Every inflationary episode embodies a power struggle within society over who benefits from inflation, who loses out – and who will bear the cost of getting inflation back down.
The economy is slowing as households get smashed by yet more rate rises
A slowing economy and households closing their wallets is bad news with a Reserve Bank determined to keep raising rates
Fair Work: 5.75% Award Wage Boost will not cause “Wage-Price Spiral”
Today’s 5.75% award wage increase is a necessary boost for the lowest paid workers but does not keep pace with inflation. The Fair Work Commission (FWC) has today explicitly said this increase “will consequently not cause or contribute to any ‘wage price spiral’”. Key Points: Award wage increase of 5.75% is less than inflation, which
The level of public housing needs to return to previous levels
Australia needs more housing, and we definitely need more public housing
May 2023
Profit-Price Spiral an Inconvenient Truth for Big Business: Economists
Despite a mainstream shift in the national conversation away from baseless claims of a “wage-price spiral”, some big business proponents and conservative economists appear unwilling to accept the economic evidence of a profit-price spiral.
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