Recently, the Fair Work Commission (FWC) announced its decision to increase the minimum wage by 2.5 percent, alongside subsequent award wage rates. This has revived the debate on whether such policy is effective at helping workers at the bottom of the economic ladder. Unsurprisingly, the Australian Council of Trade Unions (ACTU) thought it wasn t enough, having pushed for a 3.5 percent rise in the lead up to the decision, while employer groups such as the Australian Chamber of Commerce and Industry (ACCI) argued for a lower increase than what the FWC delivered.
Australia has one of the highest minimum wages in the world. The FWC s decision increases the adult minimum wage from $19.84 to $20.33 per hour, or $772.60 per week for full-time workers (a 38-hour work week). Casual employees covered by the national minimum wage also receive at least a 25 percent casual loading on top (which brings the hourly wage up to $25.41). Moreover, taking into account penalty rates such as working on
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SA will continue to see hike in unemployment for foreseeable future : Economist Updated
Nomfundo Ngcobo
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South Africa s unemployment rate will continue on an upward trajectory until the economy is structurally changed.
Looking for a job / iStock
That s the view of economist Francois Stofberg.
Figures released by Stats SA on Tuesday revealed joblessness went up by 32.6% in the first quarter of the year, the highest since 2008.
Stofberg says the increase of 0.1 of a percentage point compared to the final quarter of 2020 didn t come as a surprise.
But the figure was expected to be higher. Until you can get government to do what they are supposed to do and allow the private sector to do what they are supposed to do you will continue to see unemployment increase for the foreseeable future, says Stofberg.
Mayor Tishaura Jones’ administration released how the City of St. Louis plans to distribute $68 million in relief from the federal American Rescue Plan Act (ARPA).
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