Aussie bosses scramble to axe pay rises

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The Fair Work Commission (FWC) has revealed that the number of enterprise agreements submitted for approval has declined 30% since March when compared to the same period in 2019, whereas the number of applications to alter agreements almost tripled between April and July. FWC president Iain Ross says the most common variation sought was to remove or defer a scheduled wage increase:

Of the 156 variation bids, 57 sought to remove or defer a scheduled wage increase and 24 applied to extend an agreement’s nominal expiry date and insert a new later wage increase…

Fair Work Commission president Iain Ross said on Friday the tribunal’s caseload had jumped almost 25 per cent since March compared with the same period last year.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.