For the third consecutive quarter, the share of Australian GDP paid out in wages, salaries and superannuation contributions to workers has shrunk. Data for the September quarter of 2018, released by the Australian Bureau of Statistics on Wednesday, shows that labour compensation accounted for just 46.85% of total economic output – one of the lowest on record.
That represents the third consecutive quarterly decline in relative labour compensation.
The recent Victorian election results showed Australian voters want governments to play a pro-active role delivering public services, infrastructure, improved labour standards, and sustainability. They showed that in a time of deep cynicism with federal politics, States (and Territories) can play an important role filling the democratic void left by dysfunction and policy paralysis at the Commonwealth level.
New data on private-sector business conditions confirm that wage increases paid in the private sector of Australia’s economy continue to plumb record lows.
The ABS’s quarterly Business Indicators report, released yesterday, indicates total wages and salaries paid out by private businesses grew 4.3 percent in the September quarter, compared to year-earlier levels. This only slightly exceeded the increase in total private sector employment during the same period. As a result, wages and salaries paid per employed worker grew very slowly – by just 0.43 percent over the year.
WA’s moratorium on fracking has been overturned without consideration of economic impacts.
Economic logic, and the lived experience of Queensland and the USA, shows the industry has an incentive to expand as much and as fast as possible. This has a negative impact on communities, provides few jobs, little revenue and could increase domestic gas prices.
THE WAGES CRISIS IN AUSTRALIA:
WHAT IT IS AND WHAT TO DO ABOUT IT
Edited by Andrew Stewart, Jim Stanford, and Tess Hardy (University of Adelaide Press)
The Australia Institute Climate & Energy Program responds to the Labor Party’s renewable energy plan announced today as a welcome step in the right direction.
“Australia's electricity sector is in dire need of ambitious and integrated climate and energy policy. Labor’s announcement today is a strong step in the right direction,” says Richie Merzian, Climate & Energy Program Director at The Australia Institute.
2018 marks the tenth annual Go Home on Time Day (GHOTD), an initiative of the Centre for Future Work at the Australia Institute that shines a spotlight on overwork among Australians, including excessive overtime that is often unpaid.
Over many years, the Centre for Future Work and the Australia Institute have commissioned regular annual opinion polls to investigate overwork, unpaid overtime, and other instances of “time theft” in Australia. This year’s poll of 1459 Australians was conducted between September 17-26, with a sample that was nationally representative according to gender, age and state or territory.
Each year the Centre for Future Work at the Australia Institute conducts a public survey of Australian working hours, as part of our annual “Go Home on Time Day” (GHOTD) initiative. Findings from the survey regarding hours worked, preferences for more or less hours, and the incidence of unpaid overtime are reported in a companion study.