One in four workers are experiencing financial stress despite Australians working more than ever, according to a new survey released by the Australian National University that revealed the dire financial circumstances workers are currently facing.
The Centre for Social Research and Methods study found that the average household earns $171 less a week than they did two years ago whilst average hours of work increased, adjusted for inflation.
The survey comes just days after Labor introduced their Secure Jobs, Better Pay bill into parliament, which aims to reform workplace laws to equitably improve the pay and conditions of working Aussies.
Labor’s reforms seek to modernise industrial relations laws that have failed to keep up with the changing workforce that has left workers with less job security and declining pay and conditions across the board.
Leigh Shears, Hunter Workers Secretary:
“It’s time to modernise our workplace laws and put the ‘fair’ back into the Fair Work Act.
"The degradation of worker’s pay in this country is no mistake or coincidence, it was the intention of a Liberal government who deliberately held back wages in Australia for a decade.
"Insecure forms of work like labour hire and casual work have exploded, rapidly diminishing the bargaining power of workers who’ve seen their wages stagnate as a result.
"Pay and conditions will not improve in Australia until our laws are updated.”