Updates from the Law Council, Federal Government, Business Council of Australia and more

The cost of poor cybersecurity could be high

Recent events have underscored the importance of encouraging all Australian businesses to make cybersecurity a priority, but we must ensure that due consideration is given to plans to increase penalties against businesses that fail to protect appropriately the personal data they hold. “The Privacy Law Amendment (Enforcement and Other Measures) Bill, which is currently before the Australian Parliament, is an important step in addressing growing concerns about privacy, security and privacy. data protection,” said the President of the Law Council of Australia, Mr. Tass Liveris. said. “These are questions that are understandably at the forefront of concern following recent cyber incidents involving the theft of personal data, and we appreciate the desire to respond in a timely manner.”

Jobs and Skills Australia begins work

Jobs and Skills Australia (JSA) was officially established today, after Parliament passed an Act and was awarded Royal Ascent. Skills and Training Minister, Hon. Brendan O’Connor, said the JSA will begin its important work providing independent advice to government on current and emerging workforce needs. “JSA will take a three-way approach with state and territory governments, employers, peaks, unions and training providers to provide independent advice to government on current and emerging workforce needs. . “Australia is facing one of its biggest economic challenges in decades – a lack of skilled workers in the labor market,” said Minister O’Connor. “We invested an additional $12.9 million in last month’s budget to help the JSA more accurately identify and anticipate skills shortages, based on the best available evidence.”

A welcome increase in salaries, but there is still work to be done

Treasurer Jim Chalmers and Employment and Workplace Relations Minister Tony Burke say the Albanian government today welcomes new figures showing wages are rising at their fastest pace in more than 9 years. “The wage price index rose 3.1% in the year to September, according to data released by the Australian Bureau of Statistics. The revival in wage growth is a deliberate feature of the economic policy of the Albanian government The former government spent a decade deliberately attacking and undermining wage growth, which contributed to real wages being lower today than they were a decade ago Wages are now rising faster than at any time during the tenure of the former coalition government.

Companies raise wages

High wages driven by higher wages in the private sector call into question the need for a dramatic expansion of untested multi-employer bargaining, said Business Council chief executive Jennifer Westacott. “Companies are recording the highest rate of wage growth in a decade, which will help ease the burden of soaring inflation and cost of living pressures for the 6 out of 7 workers per week. economy-wide private sector wages have risen 3.4% this year, compared to just 2.4% for those in the public sector Almost half of workers employed by a company have received a pay raise in the last quarter, those who did earned an average of 4.3% more per hour.

$9.7 million for flood-affected Australian communities

Acting Prime Minister Richard Marles said as floods continue to cause significant damage and disruption on the east coast, the Australian government is providing an additional $9.7 million to affected communities to boost mental health supports and respond to public health risks posed by mosquito-borne diseases. . More than 135 local government areas across New South Wales, Victoria and Tasmania have suffered flooding in recent months. It has devastated communities, the environment and infrastructure and harmed the mental and physical health of many Australians. This funding includes: $4 million to help First Nations communities hardest hit by flooding provide much-needed mental health support, including trauma counseling and healing support activities, provided by organizations local controlled by the community. $1.5 million for Local Wellness and Resilience Grants to help communities recover.

Wages rise 1.0% in September quarter

The wage price index rose 1.0% in the September quarter of 2022 and 3.1% annually, according to the latest data from the Australian Bureau of Statistics (ABS). ABS Awards Program Manager Michelle Marquardt said: “This is the strongest quarterly growth in hourly wages since the March 2012 quarter. In seasonally adjusted terms, this growth was mainly driven by private sector wage increases which increased to twice the public sector wage rate (1.2 percent vs. 0.6 percent) Labor market pressures in the private sector, combined to the largest increase in Fair Work Commission awards in more than a decade, led to an increase in both the magnitude of average wage changes and the proportion of private sector jobs experiencing a wage change. The average size of the hourly wage increase for jobs where the wage rate changed was 4.3%, compared to 2.9% in the September 2021 quarter.”

CreditorWatch: A Tale of Two Economies; Small businesses struggling with late payments

The CreditorWatch Business Risk Index (BRI) for October 2022 found that small businesses are feeling the pinch of current economic pressures while larger companies are faring much better. Across all sectors, late payment rates for small businesses are on average three times higher than for large businesses, reflecting the challenge small businesses face in enforcing payment terms and collecting arrears. .

Amazon Australia SME Empowerment Report

Australian small and medium-sized businesses are harnessing the power of online stores and export opportunities to generate revenue and build resilience, according to new research released today by Amazon Australia. Amazon’s Small and Medium Business Empowerment Report explores how Australian SMEs have weathered the challenges of the past 12 months, their confidence and their optimism for the future. The report uses specially commissioned research by YouGov from SMEs in a variety of sectors, as well as data reflecting the experience of businesses across Australia selling locally and globally through Amazon. The report shows that six in ten (57%) small business owners and key decision makers believe that international exports are beneficial to their businesses. Similarly, SMEs that sell abroad were more likely to have reported an increase in revenue over the past 12 months, with 53% of exporting SMEs increasing their revenue compared to 35% for those that did not export.

Ai Group Latest Skills Survey A Call to Arms

“An Ai Group skills survey released today – Listening to Australian businesses on skills and workforce needs – sounds a fresh alarm about the skills shortages and gaps plaguing the Australian economy,” Innes Willox, chief executive of national employers’ association Ai Group, said today. “Our survey of nearly 350 business leaders from a wide range of Australian businesses asked companies about their skills and workforce needs and challenges. “Companies report that when they need to implement a new business model, adopt new technology, or simply plan to increase customer demand, they are constrained as they struggle to find the right people with the right skills to to do work.

Workers around the world are struggling to make ends meet amid a global cost of living crisis

Two in five households (43%) have suffered a loss of jobs or work hours and one in two (51%) say their income is falling compared to the cost of living, according to a new survey from opinion of the International Trade Union Confederation (ITUC). Sharan Burrow, ITUC General Secretary, said: “The inequalities and injustices that lie at the heart of the failing economic system with huge deficits in business and financial regulation have been brutally exposed and massively worsened by the pandemic. of COVID-19. Released on the eve of the 5th ITUC World Congress in Melbourne, Australia, the global poll, commissioned from YouGov, covers the general public in seventeen countries. Michele O’Neil, President of the Australian Council of Trade Unions (ACTU), said: “This poll shows that Australian workers, who face a persistent wage crisis and who have spent years being asked to more with less, are not alone.

Industry Overview (Australian Financial Review)

It is gratifying to see that Australia’s business community – especially its 2.5 million business leaders – takes seriously the trust the nation has placed in them. Since its implementation in April last year, more than 1.3 million administrators have applied for (and received) an administrator identification number (administrator ID).

Hack an alarm signal for agribusiness

Small and medium-sized businesses may be the backbone of Australia’s economy, but they are also ill-prepared and under-resourced to meet the growing challenges of a digital world. While headlines about cybersecurity vulnerabilities at big names including Medibank Private, Optus and international meat processor JBS have caused public alarm about personal data falling into the hands of criminals, family businesses more Small and medium-sized businesses are equally vulnerable.

/Public release. This material from the original organization/authors may be ad hoc in nature, edited for clarity, style and length. The views and opinions expressed are those of the author or authors. See in full here.

Leave a Reply