Why Thousands of Workers Are Automatically Getting a BUMPER Raise This Month – So Is Your Job Included?
- Thousands of workers are getting inflation-related wage increases under union deals
- Perth Applus workers receive a 7 percent increase reflecting the city’s inflation rate
- Other workers will see increases of 6 percent and 4 percent on capped deals
- However, most Aussies’ pay is struggling to keep up with inflation
Wage packages from offshore miners, transport and meat workers are set to swell in the coming months on the back of union deals pegging wages to skyrocketing inflation figures.
However, this only applies to those who have businesses where their salaries reflect inflation figures.
Official inflation figures for the June quarter saw the cost of living rise 6.1 percent, the steepest annual rise since mid-2001, but some workers are cushioned when they see their wages rise at the same rate or even higher.
Applus employees working on Woodside offshore oil and gas mine projects will receive a seven percent pay rise as a result of a union-negotiated agreement
Offshore oil and gas miners, employed by WA engineering and technical consultancy firm Applus, will see a particularly sharp increase.
Wages for those who work at mining company Woodside’s northwest operations skyrocketed 7.4 percent as their wages reflect the state’s inflation rate, which was the highest in the nation.
The deal was brokered by The Offshore Alliance, a partnership of two unions covering workers in offshore oil and gas mining, after Applus workers waged 75 days of protected industrial action to convert individual deals into a union one.
Tey’s meat workers in Queensland have already received a 6 per cent wage increase, mirroring the rise in prices in Brisbane
About 2,800 meat workers at Teys in Queensland have already pocketed a 6 per cent wage increase because their agreement was tied to Brisbane CPI inflation measurement for the March quarter.
Teys workers in NSW and South Australia also welcomed wage increases of 4.4 per cent and 4.7 per cent respectively under the deal brokered by the Australian Meat Industry Employees Union.
Employees at transportation companies Global Express and StarTrack will also double their previous 3 percent pay rise, with wages tied to an increase by the national inflation figure of 6.1 percent.
StarTrack workers are in line for a 6.1 percent pay rise if the company honors an agreement with the Transport Workers Union
However, there are concerns that the StarTrack deal is not legally binding.
Transport Workers Union national secretary Michael Kaine told the Australian Financial Review the agreements should be honored.
“We expect large transport companies to honor the CPI commitments they made to workers during last year’s round of negotiations,” he said.
Toll and Linfox workers are getting pay rises of 4 percent under a union-brokered deal that links wages to inflation but caps the rise.
Linfox workers will see wages of 4 percent in the coming months
For most Australians, rising inflation figures will mean a cut in real wages and Treasurer Jim Chalmers’ economic statement today made it clear that things are likely to get worse.
The Treasury Department expects headline inflation to reach 7.75 percent by the end of 2022, the highest since the March quarter of 1990.
This means that even the 5.2 per cent increase in the minimum wage from July 1 will effectively mean a pay cut for Australia’s lowest paid workers.
Amid rising costs, Prime Minister Anthony Albanese’s treasurer said real wages will continue to fall into fiscal 2023-24, citing new Treasury Department forecasts.
Australian Trade Union Council President Michele O’Neil said bosses need to pay higher wages to keep the economy going.
Prime Minister Anthony Albanese’s Treasurer, Jim Chalmers, has revealed his department expects inflation to reach levels not seen in 32 years
“Working Australians are taking huge pay cuts in real terms while big companies line their pockets with record profits,” she told AFR.
“We cannot expect Australians to spend their hard-earned money on essentials when they can barely afford the necessities. We need fair and equitable wages and we need them now.”
But Australian Industry Group chief executive Innes Willox said wage moderation was needed or inflation would only get worse.
“In the national interest, unions must immediately back down from exorbitant and unaffordable wage demands that will cost jobs and fuel inflation,” he said.
