Category Archives: Labour costs

Blogs in this category will analyse trends in labour costs published by various statistical agencies

Australia is caught in a cyclical malaise – there is nothing ‘new normal’ about it

There was another article in the financial media this weekend running the hypothesis that the stagnant economic conditions that Australia has found itself in is a “new normal”. This is now a repeating theme. I disagree with it. It ignores … Read the rest of this entry »

Posted in Economics, Fiscal Statements, IMF, Inflation, Labour costs | 8 Comments

British trade unions in the early 1970s

The mainstream economics (by which I mean neo-classical economics and its siblings in a History of Economic Thought context) constructs trade unions as being market imperfections that interfere with the freedom of supply and demand to determine optimal price (wage) … Read the rest of this entry »

Posted in Britain, Demise of the Left, Labour costs, UK Economy | 14 Comments

A return to full employment in Australia will require significantly higher deficits

Last week, the Australian Labor Party (the federal opposition) released a new policy platform, which it hopes will give it some electoral leverage in the upcoming federal election. The Party announced that they would be attacking poverty and inequality by … Read the rest of this entry »

Posted in Job Guarantee, Labour costs, Labour Force | 7 Comments

CEO pay still out of control and diverging again from workers’ earnings

Two things caught my attention among other things last week. The Australian Tax Office (ATO) released the – 2013-14 Report of Entity Tax Information – which tells us about the total income and tax payable was for 2013-14 tax year … Read the rest of this entry »

Posted in Labour costs, UK Economy | 13 Comments

Australia – wages growth at record low as redistribution to profits continues

The Australian Bureau of Statistics published the latest – Wage Price Index, Australia – for the September-quarter yesterday and annual private sector wages growth fell to 2.1 per cent (0.5 per cent for the quarter). This is the third consecutive … Read the rest of this entry »

Posted in Labour costs | 13 Comments

Public R&D austerity spending cuts undermine our grandchildren’s future

Growth in material living standards, which is just one measure of overall (average) prosperity and contestable at that, depends on productivity growth. How national income is distributed, real wages growth in relation to productivity growth, and the employment rates also … Read the rest of this entry »

Posted in Economics, Eurozone, Labour costs, UK Economy, US economy | 12 Comments

Friday lay day – the Unit Labour Costs obsession in Finland

Its my Friday lay day but today is going to be anything but. I am in Helsinki at present and it has been a busy few days so far. The concept of Unit Labour Costs (ULCs) is being used by … Read the rest of this entry »

Posted in Economics, Eurozone, Friday, Labour costs | 29 Comments

Friday lay day – the neo-liberal real wage scandal

Its my Friday lay day and I am trying to finish one paper that is due and also prepare the presentations that I will be giving in Finland next week. But I was reading a Briefing Paper (No 406) from … Read the rest of this entry »

Posted in Friday, Labour costs | 19 Comments

Capitalists shooting their own feet – destroy trust and layer management

There was a wonderful article – The Origin of Job Structures in the Steel Industry – written by Katherine Stone and published in 1973. It was part of an overall research program that several economists and related disciplines were pursuing … Read the rest of this entry »

Posted in Economics, Labour costs | 18 Comments

Australia wages growth drops to a new record low

With the Chinese yuan now falling and the Australian dollar going with it, domestic inflation pressures will rise in Australia in the coming months. This doesn’t augur well for Australian workers who were told today that wages growth in the … Read the rest of this entry »

Posted in Labour costs | 2 Comments