Working people’s pay packets aren’t covering increases in key living costs, and retailers are copping the consequences.
That’s the lesson to be taken from new figures released by the ABS today which show a 0.4 percent contraction in retail sales figures for December 2018.
Five years of near-record low wage growth means that working people aren’t spending money in their communities and small and medium business owners are worse off as a result.
After five years of the Abbott/Turnbull/Morrison Government people are carrying more debt, they have less in savings and the most families are stretched paying the bills.
We need to change the rules so working people can negotiate fair pay rises that stay ahead of living costs on an even playing field with big business.
Quotes attributable to ACTU Secretary Sally McManus:
“These latest figures prove that Australia needs a pay rise.
“Working people are not get getting the fair pay rises we need to stay ahead of key living costs like electricity, housing, gas and fuel. People are eating into their savings to cover their basic living costs.
“As a result, people don’t have the money left over to spend on anything extra. If we had fair pay rises that money would have been spent in local shops, department stores and shopping centres.
“One thing is for sure – if we do not improve working people’s rights Australians will not get the pay rises we need.”