Yesterday’s ABS Wage Price Index (WPI) data showed that wages have only grown on average by 2.4% for the year to March, well short of the 5.1% increase in the CPI over the same period.
This means real wages have actually fallen 2.5% in the past 12 months.
The WPI Index data is worse than projected in the Federal Budget and follows almost a decade of record low wage growth.
That’s why the
union movement is advocating for a 5.5 per cent increase to the minimum wage in the Annual Wage Review - an increase designed to prevent further real wage cuts for a quarter of all workers.
The Federal Government can, and must, also take action to improve wage outcomes for workers.
Join with your fellow union members from all over Australia in demanding that the next Government take responsibility and rectify the stagnation that is sure to continue without its intervention.
Sign the petition