by Ashley Gardiner | Apr 18, 2024 | Media Release
Australians worked an additional one million hours in March, yet the number of employed people slipped backwards.
“Despite the decrease in employment overall, there was a notable lift in full-time employment, a sign that the labour market is becoming more stable,” ACCI chief executive officer Andrew McKellar said.
The Australian Bureau of Statistics noted that the labour market remains tight with the participation rate close to its record high, and employment only slightly off its peak.
“Job vacancies remain high, almost double their pre-COVID levels, with employers continuing their struggle to find people with the right skills for unfilled positions,” Mr McKellar said.
Labour market data released today shows the unemployment rate edging up to 3.8 per cent and the participation rate easing back to 66.6 per cent, while the number of employed people fell 6,600.
Strong growth in full-time employment, up by 27,900, was offset by a fall in part-time employment, down by 34,500.
“This readjustment was expected following the larger than usual increase in employment and sizable fall in unemployment in February,” Mr McKellar said.
Unemployment continues to defy expectations, remaining below 4 per cent.
“Employers are responding to the labour and skill shortages by retaining workers where they can and offering more full-time employment to those with the right skills,” Mr McKellar said.
by Ashley Gardiner | Apr 11, 2024 | Media Release
Australia needs a sovereign manufacturing capability, so focused government attention on meeting that objective is welcome. However, Australia’s largest and most representative business network says careful consideration of the details is needed.
“Recent experience has starkly demonstrated how the narrowing of our industrial base has exposed the Australian economy to high levels of risk,” ACCI chief executive officer Andrew McKellar said.
“We support the objective. Promoting the idea of Australia having a sovereign manufacturing and industry capability is important.
“Most importantly, the Prime Minister’s speech reflects the fundamental importance of boosting productivity and improving competition for our future prosperity.
“We can’t achieve that without a competitive tax system or by handing more power to trade unions to tie businesses in ever-tighter knots.”
The proposed Future Made in Australia Act announced today will combine several previously announced initiatives, including the National Reconstruction Fund and energy transition initiatives, under one umbrella.
“We see benefit in drawing together those existing threads and building on that to better co-ordinate and manage the rollout of this government investment,” Mr McKellar said.
“There are significant opportunities in decarbonisation and the energy transition. We should seek to maximise those advantages.
“If the government is to invest in driving emerging Australian industry capabilities, that investment needs appropriate consideration and scrutiny.”
by Ashley Gardiner | Apr 8, 2024 | Media Release
Australian supermarkets must treat their suppliers fairly and provide consumers with the lowest possible prices, but heavy-handed regulation could have unintended consequences.
“The Australian Chamber of Commerce and Industry acknowledges the interim report of the Food and Grocery Code of Conduct independent review,” ACCI chief executive officer Andrew McKellar said.
“It is a considered report that raises some important issues for businesses and consumers, particularly the extent of competition in the supermarket sector and how to ensure that consumers and suppliers get a fair deal.
“Our concern is to ensure that businesses in the supply chain get a fair deal all the way back to the farm gate.
“If there is clear evidence of market failure, where major supermarket operators exercise an unwarranted degree of market power, then of course there would be grounds to address that through regulation and legislation.
“ACCI understands the rationale behind making the code mandatory, but the government needs to be cautious when introducing significant regulatory requirements that could set significant precedents.
“There needs to be further consideration of the likelihood that measures introduced for one sector will create an expectation of equivalent regulatory extensions to other areas of the economy where there is deemed to be a significant concentration of activity among large firms.
“ACCI looks forward to further consultation on the proposed changes to ensure that businesses throughout the food supply chain are treated fairly and competition is allowed to flourish.”
by Ashley Gardiner | Mar 28, 2024 | Media Release
The Australian Chamber of Commerce and Industry has lodged its submission to the Fair Work Commission’s annual wage review.
ACCI considers an increase of not more than 2 per cent to be fair, reasonable and responsible because:
- It takes into account economic and business conditions, which are fragile.
- It takes into account easing inflationary pressures in the economy and is consistent with supporting the goal of returning inflation to within the RBA’s target band of 2-3 per cent.
- It is consistent with negative productivity performance in the Australian economy over the last 12 months.
- The Fair Work Commission needs to take account of the exceptional wage increase it has delivered over the past two years, particularly last year, and the subsequent revisions of data used to justify those decisions.
“Any wage increase must be linked to productivity to be sustainable. A failure to align wage growth with genuine productivity improvements will add to inflationary pressure,” ACCI chief executive officer Andrew McKellar said.
“Another increase not aligned to productivity outcomes will worsen Australia’s economic challenges. Higher inflation will last longer, causing much greater pain than is necessary for Australian households and businesses.
“Another excessive increase runs the risk of compounding ongoing input cost pressures for Australian businesses, in particular small businesses who are struggling to maintain employment in an already complex environment.
“A 5 per cent increase, as called for by the ACTU, is irresponsible, unaffordable and increases the risk that interest rates will be higher for longer.”
ACCI’s submission can be seen here
by Ashley Gardiner | Mar 27, 2024 | Media Release
The announcement of the inaugural the members of the Ministerial Advisory Board of Jobs and Skills Australia (JSA) is a pivotal moment for the agency responsible for monitoring Australia’s workforce needs.
“We are pleased that ACCI has been endorsed as one of the four employer representatives on the JSA Ministerial Advisory Board,” ACCI chief executive officer Andrew McKellar said.
“This is an important appointment for ACCI as it allows us to represent members by advocating on behalf of the skills needs of employers nationwide.
“JSA is essential to helping to identify our present and future skills and labour needs. We know that the best defence against recurring skills shortages is access to comprehensive data that anticipates our skills needs.”
“We would also like to see the creation of specialist and representative sub-boards to be established for distinct work/priority areas of JSA as required and determined, such as apprenticeships.”
ACCI looks forward to working closely with members of the board and JSA over the coming years to help prevent further skills shortages.
