A move to cut pay at Lanco’s Griffin Coal mine
– Reuters reports some Pay will be cut by 43%
– The move to cut pay… comes five years after the peak of a commodity price boom
Like the says, this is ‘test case’, and has wider implications. The thing to watch is that cuts to incomes like this will weigh on consumer spending. Which will be an input to monetary policy decisions. And, given wages are ‘sticky’ this has barely got started.
Published in TZ Latest News 22 November, 2016 by The TZ Newswire Staff
Australian mining wages test cases – pay cut of 43% proposed
Published in TZ Latest News 22 November, 2016 by The TZ Newswire Staff
Australian mining wages test cases – pay cut of 43% proposed
A move to cut pay at Lanco’s Griffin Coal mine
– Reuters reports some Pay will be cut by 43%
– The move to cut pay… comes five years after the peak of a commodity price boom
Like the says, this is ‘test case’, and has wider implications. The thing to watch is that cuts to incomes like this will weigh on consumer spending. Which will be an input to monetary policy decisions. And, given wages are ‘sticky’ this has barely got started.