Thu, Aug 02, 2018 - Page 5 News List

NZ workers striking over wages

OVERHEATING?One economist said that accelerating wage inflation could hurt profits, causing firms to stop hiring or trying to protect margins by raising prices

Bloomberg

Private-sector bosses are watching with unease, concerned that pay demands could drive up costs and squeeze profits throughout the economy.

The government’s plan to raise the minimum wage more than one-fifth to NZ$20 per hour by 2021 and proposed industry-wide fair pay agreements that signal a move to collective bargaining have added to the disquiet.

The businesses should understand the need to reward workers, Robertson said, adding that while many employees have received good pay increases, others have not.

“Workers deserve a fair share of prosperity,” he said. “That’s fundamental to this government.”

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