Glass Industry Update

No: 61 -7th July 2009

Securing your employees future

Contents

1.     FAIR PAY WAGE DECISION

2.     UNION WAGE CLAIM UNREALISTIC

3.     OFFICIAL INTEREST RATES UNCHANGED
1.   No Minimum Wage Rise This Year

Australian Fair Pay Commissioner Chair Prof Ian Harper today announced there would be no minimum wage rise for the low paid this year, saying it had been a "most difficult" decision.  "These are uncertain times for the economy and for the Australian Labour market and in the commission's view, caution is warranted at this time in the setting of minimum wages," he said in Melbourne today.

The decision by the Fair Pay Commission not to grant a pay increase shows how unrealistic the CFMEU FFTS union claim for a pay increase of 6%, 41/2%,41/2% = 15% wage increase over three years is.  The annual CPI increase over the last 12 months to the March quarter is 2.1%.

The GGAV Industrial Relations Committee recommended increases of 2% to existing rates each year when negotiating Collective Bargaining Agreements.  Many members have reached agreement with their employees with these or similar rates.

2.    Official Interest Rates Unchanged

The Reserve Bank has left its official interest rates unchanged at a record low for the third straight month.  The RBA left its cash rate at 3%, a 49 year low - the same rate that has applied since its last cut in April.

If you have any queries contact Don Blanksby on info@ggav.org.au