Monday, 25 February 2008
The Australian Fair Pay Commission today released its first Economic and Social Indicators – Monitoring Report for the period July - December 2007, commencing what will be a series of half-yearly reports on the impact of the Commission’s wage-setting decisions for Australia’s low paid workers.
Commission Chairman, Professor Ian Harper, said the Report assists the Commission to monitor the impact of its wage-setting decisions and provides stakeholders with improved information about the economic and social circumstances of low-paid Australians.
The Monitoring Report was informed by a range of sources including research commissioned from the National Institute of Labour Studies and Access Economics.
Professor Harper said: “The Report shows that the Australian economy has continued to demonstrate sound employment and income growth, with the safety net for low-paid workers being maintained in broad terms.
“The Report models disposable incomes for a range of family types and finds they have risen after taking into account the Commission’s 2007 minimum wage increase and the July 2007 income tax cuts.”
Professor Harper noted however that, while the overall picture is generally positive, there are variations across household types, industries and regions with some performing less well.
“The new data contained in the Report provide insights into the economic and social circumstances of Australia’s lowest paid, and the Commission will seek further analysis through its research, submission and consultation processes.
“This Report considers a range of economic and social indicators taken into account when setting minimum wages.
“The new data in the Report add to the bank of knowledge about minimum wages in Australia and will contribute to public understanding of the Commission’s wage-setting role.
“We encourage our stakeholders to interpret the data and believe the Report will assist in the preparation of submissions to future minimum wage reviews.”
The next Monitoring Report will be released in August this year.
The Commission’s next minimum wage decision will be announced in July this year. Submissions close on 14 March, 2008.
Media Enquiries: Justin Napier (03) 8621 8206 / 0448 576 617