The benefit of the so called rockstar economy to ordinary working New Zealanders is missing in action. As labour productivity is surging the benefits are definitely not trickling down to workers.
Statistics New Zealand points out that from 1996 to 2013, labour productivity grew more in Australia than in New Zealand, up by an average of 2.1 percent and 1.6 percent per year, respectively.
For workers the disparity between their labour and their reward is marked when we look at how Australia is doing.
This state of affairs is set to get worse as National pushes through legislation that will leave workers further disadvantaged when it comes to pushing for pay increases.
National’s Employment Relations Amendment Bill attacks collective bargaining making it harder for unions to negotiate pay rises for their members.
One has to wonder why with increased productivity and a supposedly surging rock-star economy that the Key Government feels the need to further attack workers through weakening unions.
All this mean spirited legislation is likely to achieve is a widening of the gap between New Zealand worker’s pay packets and their Australian counterparts and more workers leaving our shores for higher wages in Australia.