Treasury blames industrial relations system for sluggish wages growth | joshgordo
Treasury says just 35.1 per cent of workers were covered by enterprise agreements, down from a peak of 43.4 per cent in 2010.
In an issues paper released in the lead up to next month’s federal jobs summit, Treasury has waded into the industrial relations debate to help explain why real wages have stagnated for 10 years despite falling unemployment. Real wages – or the buying power of workers’ pay packets after factoring the rising cost of living – are slightly below the level that prevailed 10 years ago.In 2021, about 35 per cent of workers were covered by enterprise agreements, down from 43 per cent in 2010.
There is some evidence that wages growth could finally be accelerating, with unemployment at the lowest level in almost five decades, and businesses struggling to deal with acute shortages of workers. Employment Minister Tony Burke this week also raised concerns about the ability of the industrial relations system to deliver real wages growth, despite the lowest unemployment for 48 years.
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