ACTU warns of COVID-19 recovery built on low wage growth and insecure jobs
The Australian Council of Trade Unions (ACTU) has released a report calling on the Morrison Government to commit to a fair economic recovery in their upcoming 2021 Federal Budget.
The For a Stronger, Balanced and Inclusive Recovery Report was launched by ACTU President Michele O’Neil at the National Press Club. It highlights the four central problems of the current COVID-19 recovery: the extremely rapid growth of insecure jobs, historically low wage growth (despite strong growth in profits) which threatens consumer spending, and the overall unevenness of the recovery, with many sectors and millions of workers still struggling.
The report argues that low wage growth and insecure work will negatively affect our country’s consumer confidence and national resilience in the future.
“It is way past time our Government and their budget speeches delivered on this most fundamental part of the great promise of Australia – a fair go,” Ms O’Neil said.
To remedy the problems inherent in the current system, the report makes seven key recommendations for the upcoming budget, including investments in age care, clean energy and public service. It also calls on the Morrison Government to enact measures to arrest the record low wages crisis and the surge in insecure work.
The report also recommends measures aimed at improving gender equality and women’s workforce participation, including free child care, domestic violence leave, and an improved paid parental leave scheme.
“This is a fragile moment for Australia’s recovery,” Ms O’Neil said. “The budget must address inequality and the massive shift of the nation’s prosperity into the hands of a few”.