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Australia Needs A Pay Rise (Read 643 times)
whiteknight
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Australia Needs A Pay Rise
Feb 7th, 2019 at 4:25am
 
Australia needs a pay rise: Reserve Bank head
6 February 2019
ACTU

Reserve Bank Governor Philip Lowe has identified low wage growth as a drag on the economy in a speech to the National Press Club, saying “people worry about their own future and that of their children” because of weak and even negative wage growth, combined with globalisation and technological change.

Mr Lowe made it clear that for our economy to run well, working people need fair pay rises – which we are not currently getting.

He also signaled that under current conditions, he does not see a medium-term solution to the problem, with RBA projections showing wage growth was unlikely to hit three percent between now and 2021, despite RBA expectations that wage growth would “pick up gradually”.

Polling conducted by the ACTU in August last year indicated that four in five employed people had not had a pay rise that kept them ahead of living costs in the previous year, with half getting no pay rise at all.   Sad

The ACTU is campaigning to change the rules so working people can negotiate fair pay rises on a level playing field with employers.

Our work rules are currently out of balance, and we need to update them so that working people can get the job security and fair pay rises we need to stay ahead of living costs.

Quotes attributable to ACTU Secretary Sally McManus:

“The Reserve Bank Governor has today made it clear that fair pay increase aren’t just good for the people who get them, they’re necessary for our economy to run properly.

“There are a limited number of reasons that employers agree to pay rises. The two key drivers are either that the law requires fair pay rises or that working people have adequate rights to negotiate them.

“Despite rises to legal minimum wages and low unemployment, our unbalanced system means working people can’t negotiate fair pay rises. Meanwhile company profits and CEO bonuses continue to rise.   Sad

“We need to update our system so that it works. Fair pay rises will keep working families ahead of living costs and will get our economy running again.”
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Ye Grappler
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Re: Australia Needs A Pay Rise
Reply #1 - Feb 7th, 2019 at 9:24am
 
I'm convinced these people are paid to make politically correct and politically useful statements, not make statements of basic truth and fact.

Now, in an election year, the Reserve Bank - which is not 'owned' by the government but appears to be, in popular mythology - is coming out on the side of the 'workers of Australia' in the lead-up to an election.... last night they were talking about lowering interest rates... a silly idea that will promote more division and poverty and hidden inflation by propping up the failing serial housing market rather than 'allowing people to buy their own home'.

Point is - talking about needing a pay rise is cheap...... let's see it happen... and then watch prices go up to match... it's a lose-lose game of COL/wages/COL/wages... ad infinitum....

Bizarre.. simply bizarre.... and all of this in the Year of The (Muslim Whine) Non-Pig.... Year of the Peccary?  What about Year of The Guinea Pig or something to placate the Whining Mussos or just make it The Year Of The Invented Issues???

'... therefore send not to ask for whom the bill falls.... it falls for thee!'
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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
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crocodile
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Re: Australia Needs A Pay Rise
Reply #2 - Feb 7th, 2019 at 12:25pm
 
Ye Grappler wrote on Feb 7th, 2019 at 9:24am:
I'm convinced these people are paid to make politically correct and politically useful statements, not make statements of basic truth and fact.

Now, in an election year, the Reserve Bank - which is not 'owned' by the government but appears to be, in popular mythology - is coming out on the side of the 'workers of Australia' in the lead-up to an election.... last night they were talking about lowering interest rates... a silly idea that will promote more division and poverty and hidden inflation by propping up the failing serial housing market rather than 'allowing people to buy their own home'.

Point is - talking about needing a pay rise is cheap...... let's see it happen... and then watch prices go up to match... it's a lose-lose game of COL/wages/COL/wages... ad infinitum....

Bizarre.. simply bizarre.... and all of this in the Year of The (Muslim Whine) Non-Pig.... Year of the Peccary?  What about Year of The Guinea Pig or something to placate the Whining Mussos or just make it The Year Of The Invented Issues???

'... therefore send not to ask for whom the bill falls.... it falls for thee!'


That scenario is the outcome when wages rise above the level of productivity. Low productivity is the reason for the stagnation of wages.

I've been warning everybody on this board for years about our declining productivity and the consequences to follow. so far, I've been absolutely correct.
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Very funny Scotty, now beam down my clothes.
 
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Ye Grappler
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Re: Australia Needs A Pay Rise
Reply #3 - Feb 7th, 2019 at 12:41pm
 
.. blame management for declining productivity..............
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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
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crocodile
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Re: Australia Needs A Pay Rise
Reply #4 - Feb 7th, 2019 at 12:51pm
 
Ye Grappler wrote on Feb 7th, 2019 at 12:41pm:
.. blame management for declining productivity..............

How do you work that one out
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Very funny Scotty, now beam down my clothes.
 
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Ye Grappler
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Re: Australia Needs A Pay Rise
Reply #5 - Feb 8th, 2019 at 7:08am
 
crocodile wrote on Feb 7th, 2019 at 12:51pm:
Ye Grappler wrote on Feb 7th, 2019 at 12:41pm:
.. blame management for declining productivity..............

How do you work that one out



How do you not work that one out?  Who else is responsible for running the show?
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aquascoot
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Re: Australia Needs A Pay Rise
Reply #6 - Feb 8th, 2019 at 7:45am
 
to make the workforce even more uncompetitive ??
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crocodile
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Re: Australia Needs A Pay Rise
Reply #7 - Feb 8th, 2019 at 8:47am
 
Ye Grappler wrote on Feb 8th, 2019 at 7:08am:
crocodile wrote on Feb 7th, 2019 at 12:51pm:
Ye Grappler wrote on Feb 7th, 2019 at 12:41pm:
.. blame management for declining productivity..............

How do you work that one out



How do you not work that one out?  Who else is responsible for running the show?


More likely that Grapples does not understand productivity very well nor its relationship to real wage growth.

Labour productivity has continued to grow in our domestic economy. Therefore business has not been lagging in capital investment and those investments have achieved the desired outcomes. On the other hand, capital productivity has been in serious decline for nearly two decades. The upshot of all this is that each increment of labour productivity growth is requiring greater amounts of capital as time moves on. Your view that management has been negligent is seriously misguided.

Once the sum total of capital and labour dips into negative territory ( multifactor ) expect to see a decline in capital investment and even labour productivity will hit the wall and real wages will actually decline.

...

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Very funny Scotty, now beam down my clothes.
 
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Pedro Curevo
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Re: Australia Needs A Pay Rise
Reply #8 - Feb 8th, 2019 at 11:00am
 
Productivity on the rise and wage growth in decline leads to a slowing economy, resulting from lower consumer spending which leads to a lack of business confidence.

The LNP rush to a slave labour economy is now showing the results with a lack of business confidence.
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.JaSin.
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Re: Australia Needs A Pay Rise
Reply #9 - Feb 8th, 2019 at 8:01pm
 
F-Orff WHITEKNIGHT

Australia does not need a pay-rise.
What it needs is a reduction in being the most expensive country on the planet.
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Bobby.
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Re: Australia Needs A Pay Rise
Reply #10 - Feb 8th, 2019 at 8:19pm
 
.JaSin. wrote on Feb 8th, 2019 at 8:01pm:
F-Orff WHITEKNIGHT

Australia does not need a pay-rise.
What it needs is a reduction in being the most expensive country on the planet.



Australia has the most expensive electricity, gas, mobile phone and internet bills.
This is a land run by corrupt corporations -
poor suckers here have no choice but to pay excessive prices for everything.
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Extraordinary claims require extraordinary evidence.
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.JaSin.
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Re: Australia Needs A Pay Rise
Reply #11 - Feb 8th, 2019 at 8:38pm
 
Bobby. wrote on Feb 8th, 2019 at 8:19pm:
.JaSin. wrote on Feb 8th, 2019 at 8:01pm:
F-Orff WHITEKNIGHT

Australia does not need a pay-rise.
What it needs is a reduction in being the most expensive country on the planet.



Australia has the most expensive electricity, gas, mobile phone and internet bills.
This is a land run by corrupt corporations -
poor suckers here have no choice but to pay excessive prices for everything.


YEP - AND CORRUPT ARSEHOLES LIKE WHITEKNIGHT WANT PEOPLE TO GET HIGHER WAGES BECAUSE IT MEANS MORE MONEY IN THE POCKETS OF THESE CORRUPT COMPANIES THAT CHARGE A FORTUNE.
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Bobby.
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Re: Australia Needs A Pay Rise
Reply #12 - Feb 8th, 2019 at 8:42pm
 
.JaSin. wrote on Feb 8th, 2019 at 8:38pm:
Bobby. wrote on Feb 8th, 2019 at 8:19pm:
.JaSin. wrote on Feb 8th, 2019 at 8:01pm:
F-Orff WHITEKNIGHT

Australia does not need a pay-rise.
What it needs is a reduction in being the most expensive country on the planet.



Australia has the most expensive electricity, gas, mobile phone and internet bills.
This is a land run by corrupt corporations -
poor suckers here have no choice but to pay excessive prices for everything.


YEP - AND CORRUPT ARSEHOLES LIKE WHITEKNIGHT WANT PEOPLE TO GET HIGHER WAGES BECAUSE IT MEANS MORE MONEY IN THE POCKETS OF THESE CORRUPT COMPANIES THAT CHARGE A FORTUNE.



Actually, WhiteKnight is not a bad bloke.
He just wants wage earners to have enough money left over to eat.
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Extraordinary claims require extraordinary evidence.
Carl Sagan
 
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crocodile
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Re: Australia Needs A Pay Rise
Reply #13 - Feb 8th, 2019 at 9:40pm
 
Bobby. wrote on Feb 8th, 2019 at 8:42pm:
.JaSin. wrote on Feb 8th, 2019 at 8:38pm:
Bobby. wrote on Feb 8th, 2019 at 8:19pm:
.JaSin. wrote on Feb 8th, 2019 at 8:01pm:
F-Orff WHITEKNIGHT

Australia does not need a pay-rise.
What it needs is a reduction in being the most expensive country on the planet.



Australia has the most expensive electricity, gas, mobile phone and internet bills.
This is a land run by corrupt corporations -
poor suckers here have no choice but to pay excessive prices for everything.


YEP - AND CORRUPT ARSEHOLES LIKE WHITEKNIGHT WANT PEOPLE TO GET HIGHER WAGES BECAUSE IT MEANS MORE MONEY IN THE POCKETS OF THESE CORRUPT COMPANIES THAT CHARGE A FORTUNE.



Actually, WhiteKnight is not a bad bloke.
He just wants wage earners to have enough money left over to eat.


That's admirable. Corporations and employers would like the same. There is no mileage in forcing wages down just for the hell of it. In the face of falling productivity there is no capacity to keep wages on the up without affecting employment, inflation or production.

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Very funny Scotty, now beam down my clothes.
 
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Bobby.
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Re: Australia Needs A Pay Rise
Reply #14 - Feb 8th, 2019 at 9:53pm
 
crocodile wrote on Feb 8th, 2019 at 9:40pm:
That's admirable. Corporations and employers would like the same. There is no mileage in forcing wages down just for the hell of it. In the face of falling productivity there is no capacity to keep wages on the up without affecting employment, inflation or production.




falling productivity?

I am doing the job of 5 people & getting paid for one person -
& so are most workers -
so I don't believe that's the case.
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Extraordinary claims require extraordinary evidence.
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