It’s a tough time for Australian workers, with most facing the current cost-of-living crisis with record-breaking real wage cuts and insecure jobs, forcing thousands to work through injuries and illness.
Real wage cuts set new record
Working people have struggled through a decade of flatlining wage growth and have been living with real wage cuts for more than a year that keep getting deeper.
Inflation has reached a new high at 7.3 per cent for the year to September, and 8.4 per cent on non-discretionary items like fruit, dairy and power bills, likely setting a new record for real wage cuts since current statistics were established, according to new data released by the ABS on 26 October.
The federal government’s election commitment to get wages moving is critical for the entire economy and must be acted on as soon as possible.
Employer groups that are dismissing the government’s mandate to fix the bargaining system and get wages moving are arguing for more of the same.
This would be disastrous for millions of working people and the economy as a whole.