The two main complaints I hear from Adelaide resume clients (apart from the uselessness of recruiters), is working for fools and low wages.
The Labor Party has been criticised for wanting wage rises.
The Guardian’s Greg Jericho wrote, “It is a true sign of how many political and economics journalists have been captured by business lobby groups that this is even a story.”
Who in the hell believes the standard of living of the poorest workers should decline?
Every May, business groups warn wage rises need to be restrained, because every year in May the Fair Work Commission decides the next minimum wage increase.
One might suggest the prime mission of business groups is unmitigated greed.
Wages should rise faster than inflation, because we want living standards to rise as well.
If wages grow in line with increases in inflation and productivity, they are not inflationary.
Apart from a period during the GFC and just before the pandemic when productivity hit pitiful lows, real wages have consistently grown by less than productivity.
In fact, wages growth has tanked.
Currently the Reserve Bank of Australia is predicting inflation growing by 5.9% in the 12 months to December and then down to 4.3% by June next year.
Inflation has grown by so much in the past year, even a 5.1% increase won’t make up for the rise in prices.
The Australian Industry Group – a right wing bastion of nay-sayers – in its generosity, has increased its initial wage proposal of a 2% increase to 2.5%.
Wages should grow faster than inflation and if you don’t believe so at least be honest and say you believe living standards should fall – and in this case for the poorest paid workers