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Fair Work just announced a 3.75% hike for awards wages over the next year.
This will affect one quarter, which is mostly low-wage and predominantly female workers. It is only 11% of the economic wage bill.
Cost of living was counterbalanced against weak productivity gains in the decision.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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