2011 Annual Award Review Decision
Annual Wage Review 2010-11 Decision
A Full Bench of Fair Work Australia has this morning handed down the Annual Wage Review Decision.
The key components of the decision are:
The Full Bench stated in its decision:
“In the 12 months since the last review, Australia’s economy has continued to perform strongly despite the impact of the recent floods and Cyclone Yasi. Production should recover, creating stimulus for GDP growth in the June and September quarters. Earnings and employment continued to grow and, despite increases in headline inflation, underlying inflation is currently at an acceptable level, although forecast to gradually increase over the next two years. The forecasts for 2011–12 and 2012–13 suggest that Australia’s immediate overall outlook is positive, although not all sectors are doing equally well and there are some risks to the international economy.”
Hunter Employee Relations
Author: Michael Schmidt