ARTIO sees bottom of the wage rise cycle
There are signs the rate of wage increases in enterprise agreements negotiated in the road transport industry may have bottomed out, according to the Australian Road Transport Industrial Organisation ( ARTIO).
Speaking in his capacity of ARTIO secretary and treasurer, Victorian Transport Association ( VTA) CEO Peter Anderson says a recent ARTIO review of hundreds of enterprise agreements lodged in the Fair Work Commission (FWC) in the road transport industry since the second half of 2011 show a slight uptick in the rate of wages growth in 2017 to date, compared with 2016.
“The apparent plateauing of wage growth follows a steady decline in the rate of wages growth each year in the ve years to 2016,” Anderson says.
He notes enterprise agreements may also include variations related to superannuation and other conditions, which can be used as a trade-o for wage increases, a ecting overall remuneration and conditions.
Other, more broadly based employment data, suggests a turnaround in the Australian labour market is underway.
“Australian Bureau of Statistics gures show employment growth in Australia over the past year is at its highest level for 17 years,” Anderson says.
“For transport operators, this may trigger resignations to pursue better work opportunities elsewhere in sectors like building and construction, further triggering demands for higher wage increases.