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Showing 1 - 10 of 54 results for "Wage increase"

Calls for fresh 5% hike to minimum wage

ELIZA BAVIN  |  TUESDAY, 26 MAR 2024
... further 5% rise would help workers meet current prices rises and make up for the lost income over this period. A 5% wage increase would lift the minimum hourly rate to $24.39 and the minimum annual full-time rate by $2295 to take it to $48,200. The ACTU ...

RBA pause short but sweet: Mousina

CASSANDRA BALDINI  |  WEDNESDAY, 5 JUL 2023
... month and in September so two more hikes in this current cycle." AMP had forecasted a July raise due to the minimum wage increase and inflation data still being higher than RBA targets. As to whether last month's minimum wage increase should offset ...

Wage increases shouldn't equal rate hikes

CASSANDRA BALDINI  |  TUESDAY, 4 JUL 2023
Former Labor MP Stephen Conroy has vetoed the idea that wage increases should drive further hikes and said the Reserve Bank of Australia (RBA) is looking to put the nail in the coffin of the Australian economy. In an interview with Sky News ahead of ...

Wage increases to offset more rate hikes: Experts

CASSANDRA BALDINI  |  FRIDAY, 2 JUN 2023
The Fair Work Commission lifted Australia's minimum and award wages by 5.75% to alleviate incomes eroded by inflation, but experts say the Reserve Bank of Australia (RBA) won't be backing off anytime soon. Speaking this morning, Fair Work Commission ...

Slash proposed tax rate for high super balances: FAAA

KARREN VERGARA  |  FRIDAY, 21 APR 2023
To avoid disincentivising Australians saving more for retirement, the Financial Advice Association Australia (FAAA) urges the federal government to decrease the proposed 30% tax rate for superannuation balances that exceed $3 million. This is in response ...

Purpose of pause to gather more data: RBA

CASSANDRA BALDINI  |  TUESDAY, 18 APR 2023
The Reserve Bank of Australia's (RBA) call to pause rate hikes rested on a decision to gather more information, it said. The minutes from its April 4 board meeting, where it decided to keep the cash rate at 3.6%, reveal the board extensively weighed ...

RBA steadies cash rate, flags more hikes

KARREN VERGARA  |  WEDNESDAY, 5 APR 2023
... businesses confronting an increasingly uncertain global economic outlook, this reinforces the need for a sustainable wage increase for the 2.66 million award employees under the Fair Work Commission's annual wage review," he said. Looking toward the ...

Inflation erodes retiree savings by 7.5%

KARREN VERGARA  |  TUESDAY, 21 MAR 2023
The rising cost of travel, fuel and many food staples continue to aggravate the quality of living for retirees as inflation leapt 7.5% in the last year. Oils and fats (20.8%), domestic travel and accommodation (19.8%), milk (17.9%), gas (17.4%), fuel ...

Salary inflation becoming S issue for ESG managers

RACHEL ALEMBAKIS  |  FRIDAY, 20 JAN 2023
With wage inflation expected to persist into 2023, managing wage increases, employee satisfaction and other measures to attract and retain talent are issues on the agenda for ESG engagement this year. According to the latest data available from the ...

Business confidence, conditions rally: NAB

ANDREW MCKEAN  |  WEDNESDAY, 10 AUG 2022
National Australia Bank's (NAB) latest business survey reported business confidence has risen above average levels and conditions have strengthened. Business confidence bucked a trend of steady monthly declines, rising seven index points. NAB called ...
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