Unemployment is up 0.1 per cent to 5.3 per cent and underemployment has increased 0.2 per cent to 8.5 per cent. Around 1.1 million Australian workers are looking for additional hours that they cannot find, according to data released this morning by the ABS.
The Morrison Government’s constant concessions to business have resulted in fewer jobs and more insecure work.
Government Ministers have recently claimed that historically low wage growth is a key feature of the Government’s economic policies.
Half of the 18 industries monitored by the ABS have had their wage growth reduced over the last year.
The Australian economy is faltering. We have the slowest economic growth since the GFC, a wages crisis, households being forced to dip into their savings and retail trade has had its worst result since the 1990s recession.
As stated by ACTU Secretary Sally McManus:
“1.1 million Australian workers need more work and can’t find it, private sector wages in new agreements are going backwards, and wage growth has been flat for eight years.
“The Morrison Government has created double jeopardy for working people with both increasing unemployment/underemployment and falling wages growth.
“Australian workers need good, steady jobs but the Morrison Government is waving through more insecure forms of work and giving a green light to companies that want to exploit vulnerable temporary migrant workers.
“The Morrison Government has been a disaster for working people and the introduction of the Ensuring Integrity Bill would only make it harder for workers to win wage rises and find secure work.”