More than 2.6 million Australians on award and minimum wages will find out how their pay packets could change when the industrial umpire makes its annual decision. 7NEWS
The Albanese government has argued for a rise which ensures wages do not go backwards when compared to inflation, which sits at 5.1 per cent.Unions have pushed for a 5.5 per cent increase which they say will prevent a further real wage cut for a quarter of all workers.
“Yet employees are facing a rate of inflation almost twice that of anticipated wage growth by the end of 2022 according to the RBA. And it is the low paid who have been hit the hardest.”The Fair Work Commission is set to reveal how much it will recommend lifting the minimum wage.It has argued the union bid would “add substantially to the risks of entrenching inflation and greater increases in interest rates”.
“It would have adverse impacts on the economy, on unemployment, on underemployment and on sentiment, and would be a setback for many low income households.”
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