- Banking & Finance
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The new Commonwealth government is hosting a major Jobs Summit in September 2022, bring together representatives from a range of stakeholder groups to discuss the challenges facing Australia’s labour market, and how to achieve strong employment, job quality and security, and better skills and training opportunities.
Labour costs have played an insignificant role in the recent increase in inflation, accounting for just 15 percent of economy wide price increases while profits have played an overwhelming role, accounting for about 60 percent of recent inflation.
The recent federal election featured important debate regarding the rising cost of living in Australia, and whether and how wages should be boosted to keep up with higher prices. One exchange, late in the campaign, occurred when ALP leader Anthony Albanese stated his belief that wages should keep up with prices — but then was
Almost one in five Australians (and a higher proportion of young workers) acknowledge working with potential COVID symptoms over the course of the pandemic, according to new opinion research published by the Centre for Future Work. The research confirms the public health dangers of Australia’s existing patchwork system of sick leave and related entitlements. The main
In 2021 the Royal Commission into Aged Care Quality and Safety recommended that gig work, independent contracting and other ‘indirect’ employment arrangements be restricted in the publicly-funded aged care sector.
A comprehensive review of Australian wage trends indicates that wage growth is likely to remain stuck at historically weak levels despite the dramatic disruptions experienced by the Australian labour market through the COVID-19 pandemic. The report finds that targeted policies to deliberately lift wages are needed to break free of the low-wage trajectory that has
This report from the Carmichael Centre argues that Early Childhood Education and Care (ECEC) services should be treated as a strategic industry of national importance – not just a ‘market’, and not just a ‘cost’ item on government budgets.
If the federal government lifts annual higher education spending to 1% of GDP, it could repair the destruction inflicted by the COVID pandemic and make universities more accessible and affordable for all Australians, according to new research from the Centre for Future Work at the Australia Institute.
Expanded ECEC services would provide a badly-needed boost to Australia’s economic recovery from COVID-19.
The Commonwealth Government has tabled its budget for the 2022-23 financial year. As the nation emerges from two years of lockdowns and border closures, with less than two months until a federal election, this budget is focused on getting the government re-elected – rather than addressing the challenges of public health, stagnant wages, and sustainability facing Australia.
Strong vocational education and training (VET) systems are vital to the success of dynamic, innovative economies and inclusive labour markets. Australia’s VET system once provided well-established and dependable education-to-jobs pathways, but a combination of policy vandalism and fiscal mismanagement plunged the VET system into a lasting and multidimensional crisis.
New research from the Centre for Future Work shows that the rapid transformation of Australia’s aluminium facilities to sustainable sources of electricity would spark substantial economic benefits: for the aluminium industry, its supply chain, and for the burgeoning renewable energy sector (which would achieve greater critical mass from major new power supply contracts).
Global automotive manufacturing is rapidly transitioning to the production of Electric Vehicles (EVs) in line with technological advancements and the global community’s commitment to addressing climate change. This transition presents an enormous opportunity for Australia to rebuild its vehicle manufacturing industry, taking advantage of our competitive strengths in renewable energy, extractive industries, manufacturing capabilities, and
New research on international collective bargaining systems, released today in a special issue of the peer-reviewed journal, Labour and Industry, finds that Australia’s industrial relations system is rapidly losing its ability to support wages in the face of numerous challenges (now including the Omicron outbreak).
On the heels of new data showing further erosion of Australia’s collective bargaining system, researchers and practitioners from five countries have identified best practices from other countries that could strengthen collective bargaining and lift wages.
The Victorian Government’s policy of capping of local government rates revenue in Victoria is a regressive move on economic, social and democratic grounds. By arbitrarily tying the growth in total rates revenue in each local government area to price indexes, the state government restricts the ability of local governments to respond to the COVID-19 crisis
The COVID-19 pandemic severely disrupted global labour markets, and exposed long-standing gaps in social protection systems. Governments around the industrialised world injected hundreds of billions of dollars into a range of unprecedented crisis measures: to support individuals who lost work, to subsidise employers to retain workers despite the fall-off in business, and to facilitate workers to stay away from work when required for health reasons. More recently, as the pandemic progressed and vaccination became widespread, governments have begun considering how to transition toward a post-COVID policy stance.
2021 marks the thirteenth annual Go Home on Time Day (GHOTD), an initiative of the Centre for Future Work at the Australia Institute that shines a spotlight on overwork among Australians, including excessive overtime that is often unpaid. Last year’s report emphasised that 2020 had been extraordinary and difficult, and 2021 has brought little reprieve.
Our research at the Centre for Future Work is motivated by a deep commitment to improving the jobs, working conditions, and living standards of working people in Australia and around the world. We combine our knowledge of economics, our quantitative and qualitative research, and our connections with trade unionists and social movements to develop arguments and evidence that supports campaigns for decent work, stronger communities, and sustainability.
Information industries have lost some 60,000 jobs in Australia in the last 15 years, almost half during the COVID-19 pandemic. And a new research report highlights the need for active policy supports to stabilise the media industry, and protect the public good function of quality journalism.
New research confirms that workers in casual and insecure jobs have borne the lion’s share of job losses during the COVID-19 pandemic – both the first lockdowns in 2020, and the more recent second wave of closures. Since May, workers in casual and part-time jobs have suffered over 70% of job losses from renewed lockdowns and
The COVID-19 pandemic and resulting economic disruptions, both within Australia and globally, have highlighted the strategic importance of a vibrant manufacturing sector to national economic performance and resilience. The Economic References Committee of the Senate of Australia recently conducted an inquiry into the future of Australia’s manufacturing industry, and the policy measures that are essential to ensuring its presence and success.
A sustainable social, political and environmental response to the “twin crises” of the COVID-19 pandemic and climate change will require policymaking beyond capitalism. Only by achieving a post-growth response to these crises can we meaningfully shape a future of jobs in renewable-powered industries shaped by organised labour, democratic values and public institutions. Anything less will merely create more markets and more technocratic fixes that reinforce the growing social and environmental inequalities that our current political system cannot overcome.
Australia’s universities were uniquely impacted by the COVID-19 pandemic and recession — including the closure of borders to most international students, the implementation of new COVID-safe instruction practices, and effective exclusion from Commonwealth support programs like JobKeeper.
As one of its first legislative acts, the new Commonwealth government is proposing to provide 10 days of paid leave for victims of family and domestic violence, as a right enshrined in Australia’s National Employment Standards. This will provide victims of FDV with important economic security as they work to address or escape their situations. Access to such leave has been shown to be effective in reducing the subsequent incidence of violence, and assisting victims and their families in rebuilding their lives.
Culture is an inescapable part of what it means to be human. We can no more imagine a life without the arts than we can imagine a life without language, custom, or ritual. Australia is home to the oldest continuing cultural traditions on the planet, and some of the world’s most renowned actors, musicians and
The Centre for Future Work has prepared a 4-page summary of our recent detailed report on funding needed improvements in aged care services in Australia, in the wake of recommendations from the Royal Commission into Aged Care Quality and Safety.
As Treasurer during the 1980s, Paul Keating lamented that Australian governments had for decades been allowing the country’s sophisticated industrial base to fall apart as unsophisticated raw materials came to dominate the nation’s exports and as a result, its economy slipped into developing-world status. Keating’s famous warning of Australia’s looming ‘banana republic’ status spurred the Hawke and subsequent Keating Labor governments into action on economic restructuring, which included considering a range of industry policy intervention options to put Australia on a track to advanced, industrial status, as had been the aim of post-war nation-building that helped to institute an advanced manufacturing industrial base in Australia.
Australian society is experiencing an epidemic of mental illness that imposes enormous costs on individuals with poor mental health, their families, and the broader economy. There is no doubt that the stress, isolation and disruption caused by the COVID-19 pandemic has made this crisis even worse.
The Commonwealth government has tabled its budget for the 2021-22 financial year. The government is counting on a vigorous and sustained burst of consumer spending by Australian households to drive the post-COVID recovery. Yet the budget itself concedes that the main sources of income to finance expanded consumer spending (namely, wages and income supports) will remain weak or even contract. As shown in the Centre for Future Work’s analysis of the budget, these two dimensions of the budget are fundamentally incompatible.
Implementing the recommendations of the Royal Commission into Aged Care Quality and Safety will require additional Commonwealth funding of at least $10 billion per year, and there are several revenue tools which the government could use to raise those funds. While the Royal Commission’s 148 recommendations were not explicitly costed, the Centre’s report shows that