TJ Ryan Foundation Research Associate, David Peetz, writes in The Conversation (25.8.22) about the Albanese government’s coming jobs summit, stressing that today’s economic conditions are very different from those that informed Bob Hawke’s 1983 economic summit.
‘To those old enough, Prime Minister Anthony Albanese’s Jobs and Skills Summit brings back memories of Bob Hawke’s National Economic Summit conference, held the month after his 1983 election victory. But they are very different animals in very different contexts.
‘In the 1983 summit, the context was high inflation and unemployment, fed by high wages growth. Profits were squeezed. The unions had to be persuaded to restrain wages demands, and the Prices and Income Accord of February 1983 had achieved that. The summit reinforced that consensus.
‘In 2022, the context is high inflation and low unemployment. Unions are much less powerful than they were in 1983. Rising prices are feeding into rapidly growing profits, and corporations benefit from shortages and market concentration by pushing up prices in numerous areas. That’s how markets work in times of shortages.
‘… So the task for Albanese would be much harder than that facing Hawke, if the jobs summit were aimed at inflation. It is not. Its agenda is about full employment, productivity, job security, wages, labour force participation, skills and the labour force aspects of industrial change.’
- What can unions and the Albanese government offer each other at the jobs summit? »
- If the PM wants wage rises, he should start with the 1.6 million people on state payrolls »
- From Australia’s migration program to wages: What’s on the jobs and skills summit agenda »
- Albanese’s jobs summit is not a rerun of Hawke’s: this time voters want to challenge globalisation, not embrace it »
- Big business aims high for wages and growth at jobs summit »
- Employment Minister Tony Burke ‘really interested’ in multi-employer bargaining proposal as jobs summit looms »
- Let’s make a deal: Chalmers hints at turning back clock to jump start wages growth »
- Grattan on Friday: Can Albanese government wring consensus from union-business impasse over industrial relations? »
- Australia’s jobs and skills summit: who’s going and what’s on the agenda? »
- Alan Kohler: Business is on a hiding to nothing at the jobs summit »
- Summits old and new: what was Bob Hawke’s 1983 National Economic Summit about? »
- View from The Hill: Albanese seeks ‘new culture of co-operation’ out of summit »
- A fast fix for the jobs summit: let retirees work without docking their pension »
- Why unions and small business want industry bargaining from the jobs summit – and big business doesn’t »
- An idea for the jobs summit: axing the ‘business investment’ visa would save Australia $119 billion over three decades »
- Who’s in, and just as importantly who missed out, on Albo’s jobs summit »
- As Labor’s jobs and skills summit kicks off, it’s all about having a seat at the table »
- The jobs summit needs to think big: here are 3 priorities for future-proofing Australia »
- Government to legislate for multi-employer bargaining, strengthening push for wage increases »
- How the jobs summit shifted gender equality from the sidelines to the mainstream »
- Summit outlines a mud map but leaves a big gap on how we get out of this mess »
- Kidding ourselves about the budget »
- Despite high hopes, multi-employer bargaining is unlikely to ‘get wages moving’ »
- What the compromise IR deal means for wage negotiations, and pay rises »
- 40 years on, does Australia need another Prices and Incomes Accord? »
Many jobs summit ideas for wages don’t make sense – upskilling does
Michael Keating writes in The Conversation (25.8.22) about the upcoming national jobs summit, arguing that – of the many job-boosting ideas being floated by pundits – the best way to increase wages is to invest in education and skills.
‘Treasury’s issues paper for the jobs summit says fair pay and job security “strengthen communities, promote attractive careers and contribute to broad-based prosperity”. But it notes “many Australians have not experienced real wage gains”.
‘It says real (inflation-adjusted) wages have grown by only 0.1% per year over the past decade and have declined substantially over the past year. It is important to note Australia is not unique.
‘In Canada, France, Britain and the United States as well as in Australia, real wage growth has been much lower in the 12 years preceding COVID than it was in the decade before that. The critical question is why. Good policy depends on the answers.
‘… It is entirely possible that if we were able to successfully address the structural causes of low wage growth, we could accelerate wages growth and thus consumer demand, which would accelerate productivity growth, giving us wages growth without a wage-price spiral.’
- Many jobs summit ideas for lifting wages don’t make sense – upskilling does »
- Business calls for ‘catch up’ migration, as participants position ahead of Albanese’s jobs summit »
- If productivity was the magical fix some claim, we wouldn’t need a jobs summit »
- Yes, we know there is a ‘skills shortage’. Here are 3 jobs summit ideas to start fixing it right away »
- Keep enterprise in bargaining »
- Jobs summit must endorse sector-wide pay claims to lift wages, unions say »
- Is education or immigration the answer to our skills shortage? We asked 50 economists »
- As the jobs summit talks skills – we predict which occupations will have shortages and surpluses in the next 2 years »
- The summit needs to get us switching jobs. It’d make most of us better off »
- Jobs and Skills Summit is good start to ensuring workers are no longer left behind »
- Landmark deal: Unions team up with small business body to push workplace reforms »
- Unions and businesses unite on TAFE and training ahead of Jobs and Skills Summit »
- First Nations workers are everywhere. The jobs summit must tackle Indigenous-led employment policy too »
- Business cuts to on-the-job training have made Australia increasingly reliant on migrants, experts say »
- Summit cheat sheet: what is productivity, and how well does it measure what we do? »
- Albanese unveils free TAFE training package to open jobs summit »
- Bring out the welcome mat: Big lift in skilled migration to fix labour crisis »
- How to get to full employment: Ross Garnaut’s address to the jobs summit »
- Increase to working limits for pensioners as jobs summit ends »
- View from The Hill: Summit triggers immediate action and elevates gender equality »
- Lifting migration was easy – now Australia faces two tougher choices on migrant income and residency »
- Fee-free Tafe places to entice more women into construction jobs, Brendan O’Connor says »
- Albanese’s workplace changes strike first hurdle as cross-benchers team up »
- Pay day: Workplace reforms hailed as a win for women »