The FWC will today hold its final hearing in this year's minimum wage review, in which employers and unions are divided over whether the domestic economy has started to recover from the coronavirus pandemic shutdown.
The NSW Government has taken off the table its offer of a $1000 "bonus" and job guarantee in lieu of a pay rise for frontline public servants, as it pursues the freeze in the NSW IRC, following a disallowance motion in the Upper House.
Unions are still in the dark about which NSW public servants would qualify for a $1000 frontline worker 'bonus' in lieu of a pay rise, while a health union has asked the State Treasurer to ditch a 2.5% wages cap before it puts the offer to members.
Large numbers of retail employees covered by agreements approved in the second half of last year face wage freezes if employers succeed in their campaign for a coronavirus-driven pause in minimum pay rises such as that adopted during the GFC, new Attorney-General's Department data on bargained wage rises reveals.
Bargained wage rises in the private sector dropped to 2.7% a year in the September quarter, according to newly-released Attorney-General's Department data that also shows some large retail employers are starting to tie increases to the FWC's annual review.
Workers' wages will continue to grow at about 2.2%, similar to the current WPI, partly because the forthcoming 0.5 percentage point rise in compulsory super payments will be mostly funded by forgone pay rises, according to the RBA.