The Workplace Gender Equality Agency has revealed a NDIS health service, the Energizer battery giant and an investment and logistics company have the largest median total remuneration gender pay gaps, while construction topped the list on an industry basis, under new laws requiring the agency to annually report the performance of companies with 100-plus employees.
The FWC has today launched the next stage of its gender pay equity research, in which it will examine a dozen awards covering highly-feminised sectors to uncover indicators of gender-based undervaluation of minimum rates, ahead of the 2023-24 annual wage review.
Award wage increases have responded to rather than contributed to higher price inflation, and although the tight labour market has brought higher pay growth, it is "not enough to be a threat to slowing price inflation", according to a leading labour market economist.
University research commissioned by the FWC has identified 29 "large, highly feminised" and probably undervalued occupations covered by 13 modern awards that it might spotlight in the current annual wage review, in response to the Secure Jobs' imperative to address unequal remuneration and gender undervaluation in minimum rates of pay.
JobKeeper kept people in work and prevented widespread business failures during the coronavirus pandemic, but in future crises the Government should consider improvements, including a tiered wage subsidy, according to Treasury's evaluation of the landmark scheme.
The RBA says several new early indicators it has developed in-house are helping it to build a "fuller view" of wage movements ahead of the release of official figures.
The highly-orthodox IMF has told the RBA's annual research conference that it is "hard to find" recent wage-price spirals across advanced economies and that pay acceleration "should not be seen as a sign" that the corkscrew feared by the central bank "is taking hold", in a session in which new board member and former FWC president Iain Ross led discussion.
A senior Treasury Department official says the Federal Budget's forecast that inflation will drop back to 2% to 3% by mid-2025 assumes the FWC will make a minimum wage ruling that "broadly proxies" last year's increases.
The RBA is continuing to warn about the dangers of a wage-price spiral, saying the chances of it have declined, but could rise again if the FWC awards a "large" minimum rise this year or government employers ease or drop pay caps.
