Why the extra cash you get from a pay rise may not buy as much as you'd like
Analysis of the most recent workplace agreements shows a typical pay rise was just 3 per cent.Reserve Bank governor Philip Lowe wants economy-wide wage increases of up to 3.5 per cent.Workers’ real incomes are still going backwards, with the most recent workplace agreements showing the typical pay rise was just 3 per cent, despite soaring inflation.
Reserve Bank governor Philip Lowe recently warned of risks to higher unemployment if wages rose too quickly to match inflation, which is. He wants economy-wide wage increases of up to 3.5 per cent. About 35 per cent of Australian workers have their pay set by collective agreements, although that has been declining over the last decade. In that time 1.4 million extra workers now have their pay set by the minimum rates set by workplace awards, which tend to be at far lower rates.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Blind date: ‘We filled some awkward silences with small talk, which I hate’Tomi, 25, sustainability adviser, meets Adeena, 24, political consultant
Read more »
Blind date: ‘We filled some awkward silences with small talk, which I hate’Tomi, 25, sustainability adviser, meets Adeena, 24, political consultant
Read more »
SA government offers to pay for suspected Adelaide neglect victim's funeralThe family of six-year-old Charlie is offered financial assistance so the suspected neglect victim can have a 'caring, compassionate and appropriate funeral'.
Read more »
Foreign investors to pay extra $455m in feesJim Chalmers has moved quickly to double fees for foreign investors acquiring assets in Australia, but he insists offshore buyers remain welcome in Australia.
Read more »
Foreign investors to pay extra $455m in feesJim Chalmers has moved quickly to double fees for foreign investors acquiring assets in Australia, but he insists offshore buyers remain welcome in Australia.
Read more »