THE HON STEPHEN JONES MP
MINISTER FOR FINANCIAL SERVICES
MEMBER FOR WHITLAM
New ABS data has revealed wages rose 1.3 per cent in the September quarter, marking the highest increase in the 26-year history of the Wage Price Index (WPI).
Real wages increased 0.1 per cent in the September quarter, marking the second consecutive quarterly increase.
Under the Albanese Government, wages have been growing at an annualised average of 4.0 per cent, almost double the average under the former Morrison Government.
Stronger wages growth is a result of the Government’s policies to lift wages for workers including support for record increases to the minimum wage, a 5.75 per cent pay rise for workers on awards, the highest ever pay rise for aged care workers, significant investments in education and training, and in new industries to create secure, well-paid jobs.
The Government is supporting higher wages for Australian workers. Last year, Labor passed the Secure Jobs, Better Pay legislation to get wages moving again and improve conditions by bringing workers and employers back to the bargaining table.
This year, Labor’s Closing Loopholes Bill before the Parliament is focused on closing the loopholes that undercut workers’ wages, conditions and safety.
Quotes attributable to Member for Whitlam Stephen Jones:
“The Reserve Bank and the Australian Bureau of Statistics have confirmed that our $23 billion 10-point cost-of-living plan is directly reducing inflation, with our policies on child care, electricity and rents taking half a percentage point off inflation in the September quarter.
“While I welcome this progress on wages growth, I know how tough it is for people and businesses in the Illawarra and Southern Highlands at the moment due to inflation and higher interest rates. Our Government remains focused on dealing with the inflation challenge and providing cost-of-living relief.
“We promised to get wages moving again, and that’s what we’re doing. Meanwhile the Opposition has teamed up with One Nation to vote against our Closing Loopholes legislation which is all about making wage theft a crime and ensuring there are more rights for gig economy workers.”