Hourly rates of pay excluding bonuses in the private sector are increasing at a record low of 2.2% a year in trend terms, according to the ABS Wage Price Index, released today.
Wage growth in private sector federal agreements approved by the FWC in the March quarter dropped to the lowest level since 1991, according to the Department of Employment.
The Abbott Government has urged the Fair Work Commission to take a "cautious approach" in this year's minimum wage review due to below-trend GDP growth and a slower than expected recovery in non-mining sectors, while the ACTU says the small business measures in the Budget "dramatically improve the affordability" of pay rises in the award-reliant sector.
In his second major backdown on Australian Defence Force personnel pay and conditions, Prime Minister Tony Abbott has bumped up from 1.5% to an above-inflation 2% the annual wage increases payable under their three-year agreement.
Relying on improved economic and labour market conditions, the UK's Low Pay Commission has recommended that the Cameron Government increase Britain's minimum wage by 3%, well in excess of the forecast inflation rate.
Employers have told the Reserve Bank of Australia that workers appear willing to trade wage growth for greater job security, according to the institution's latest monetary policy statement.
A new report from a major employment law firm predicts that the Senate will pass the Abbott Government's Fair Work Act and building industry amendments, suggests the next reforms will be limits on industrial action and productivity requirements for enterprise agreements, and highlights the lower than expected activity in the FWC's anti-bullying jurisdiction.
Legal salaries continued their slow recovery from the 2012 crash, but a high percentage of lawyers considered leaving their job during the last financial year, according to a new report from recruitment firm Mahlab.
