ACTU Wages Report November 2011
24 November, 2011 | Report
The ACTU Wages Report is a series of periodical reports setting out key trends in wages and prices. The Report forms part of a new suite of regular economic reports by the ACTU, along with a Jobs Report and an Economic Report, each of which will be released quarterly.
Some measures that are relevant to wage developments, like productivity growth, hours worked, and unit labour costs, will be covered in the other reports. These reports replace the ACTU Economic Bulletin.
The ACTU Wages Report responds to claims by employer groups that Australia was on the verge of an unsustainable wages breakout, with real wages rising faster than productivity. This, it was claimed, would tip Australia into an inflationary wage-price spiral, leaving workers no better off.
The blame was laid on the Fair Work Act and unions’ allegedly unreasonable demands. Employers had little trouble finding publicity for their claims, despite the lack of evidence in favour of them.
At the time, the ACTU strongly disputed the employers’ claims, suggesting instead that wages growth was solid but sustainable. The data that has emerged throughout 2011 has supported the ACTU’s analysis. If anything, the data shows that wages are barely keeping up with the cost of living.
Last updated 24 November
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