Slowest wages growth on record

With the wage Price Index released today showing wages growth well below average in every single industry, it’s time for the Abbott Government to come clean about the non-existent ‘wages-blowout’.

ACTU Secretary Dave Oliver said, “The truth is that we are seeing the slowest wages growth on record and it’s time for the Abbott Government to be honest and upfront with workers.”

“Australia is in the midst of a job security crisis with thousands of workers losing their jobs and many others pushed into casual insecure work. Meanwhile, under the banner of a so-called ‘wages blowout’, the Abbott Government has blamed every economic fallout on workers,” Mr Oliver said.

“It’s simply false and misleading. There is no such thing as a wages blow out in Australia. These figures show that wages grew 2.6 per cent last year, while the CPI rose 2.7 per cent.”

“Wages didn’t even keep up with inflation.”

He said, “On the other hand, at the same time as wages growth is slowing, big corporations are revelling in a bumper profit season, with major employers like Commonwealth Bank, BHP Billiton and Wesfarmers reporting big jumps in earnings and multi-billion dollar profits.”

“This follows the worst unemployment figures in over a decade. We are still waiting for Tony Abbott to step up and fight for jobs.”

“Every day workers in this country are confronted with more job losses, more jobs going offshore and continued inaction from the Abbott Government.

“We know Australians are struggling with the cost of living and worried about job security but they’re getting cold comfort from a Federal Government that has made clear it won’t stand up for working people.”

“Instead they are seeking to attack their wages under a banner of misinformation.”

Mr Oliver said there were two urgent priorities to protect Australia’s economic prosperity – one is job creation and the other is to avoid a slash and burn Budget with further cuts.

“If the Abbott Government serves up a slash-and-burn Budget in May as promised it will throw more Australians out of work and onto the dole queues,” Mr Oliver said.

“Reduced spending or increased taxes in these conditions will make a bad situation worse.

“Tony Abbott must urgently spell out a plan for job creation and back up his promise of one million new jobs within five years.”

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