Recently, the SDA commissioned the South Australian Centre for Economic Studies to assess the economic impact on the South Australian economy of the retail and fast-food pay rises that occur from 1 July 2015.
The research found that: –
- Over 60,000 retail and fast-food workers, covered by SDA-negotiated Agreements and the Retail Award, will receive a pay rise from 1 July.
- The estimated wage increase in the retail and fast-food sector will lead to a net increase in wages income of $29.5 million.
- Taking into account the additional incomes generated by household spending, the total impact to the South Australian economy of these wage rises are estimated to be $61.1 million.
SDA Secretary Peter Malinauskas says this research confirms that sensible SDA-negotiated pay rises ensure retail wages keep up with the cost of living and are also good for the economy.
The SDA understands that strong economies are underpinned by an expanding middle class, not a shrinking one.
As a result of these wage increases for over 60,000 retail workers, an extra $550,000 is going to hard working South Australians this week alone.
That is an extra $29.5 million in wage increases, which will provide a $61 million boost to the local economy this financial year.
If you would like a copy of the research – Economic Impact of Retail and Fast-Food Sector Wage Rises – conducted by the South Australian Centre for Economic Studies, please contact the SDA on 8139 1000.