Unions have said ‘it’s time to look at the other side of the ledger’ and demanded business dip into strong profits to ensure workers’ wages keep up with cost of living increases.
said even with signs that businesses were offering higher pay to attract workers, “because of the surge in inflation, real wages will be lower than anticipated following on from years of subdued growth”.
“The starting point for tackling inflation surely must be price and profit restraint rather than requiring workers to keep taking it in the neck,” he said.Australian Council of Trade Unions secretary Sally McManus said profit among non-financial corporations had increased by 21.6 per cent for the year to March, double the rate compared with last year.Labour productivity also grew 2.
Australian Workers Union national secretary Daniel Walton said that “after a decade of wage stagnation it is absolutely fair and reasonable that workers receive pay rises that keep pace with the cost of living”. “Some of that profit distribution goes to increased costs for corporates and some will go back to workers as we have record low unemployment.”
“We’ve seen change in the federal level – we’ve seen noises made by our new prime minister about picking up the minimum rate. Well, we need wage justice for frontline workers who’ve been forgotten about.”The Albanese government has said an undefined cohort of “low paid” workers – beyond those on the minimum $20.33 an hour but excluding some higher-award classifications – should have increases in line with inflation in this year’s minimum wage decision.