A shorter working week with no pay cut!
Janet Burstall argues the case from an Australian perspective. The same basic ideas are applicable in Britain and elsewhere. The most optimistic assessment by the Reserve Bank is that it will take a “few years” to reverse “much” (i.e. not all) of the increase in unemployment from the Covid-19 lockdown. The wages vs jobs trade-off debate is back with a vengeance. Unionists are arguing that keeping up incomes will stimulate demand and economic growth, while employer voices argue that they cannot afford a 4% rise in the minimum wage, and many will cut employment or go out of business. The system...