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West Australian
4 days ago
- Business
- West Australian
Four-day work week: ACTU to push shorter week Treasurer Jim Chalmers' economic roundtable, no pay cuts
The Australian Council of Trade Unions (ACTU) will present a proposal advocating for reduced working hours, including a four-day work week, at next week's Economic Reform Roundtable in Canberra. This initiative aims to ensure Australians gain from productivity improvements and technological advances, and say it's 'key to lifting living standards'. Unions argue that a shorter working week is essential for improving employees' quality of life. They stress that such a reduction should not come with any loss of pay or conditions, with protections covering penalty rates, overtime, and minimum staffing levels. For sectors where a four-day week is impractical, unions suggest alternatives such as increased rostered days off, extended annual leave, and redesigned rosters to improve predictability, security, and work-life balance. Supporting their case, the ACTU cites recent peer-reviewed research published in Nature Human Behaviour showing the benefits of a four-day work week, which include boosted performance, reduced burnout, and enhanced employee health and retention. This study examined nearly 2,900 employees across organisations in Australia, New Zealand, Ireland, Canada, the UK, and the US. Australian trials likewise support these findings. A 2023 study from Swinburne University involving ten Australian companies revealed that 70 per cent experienced higher productivity during four-day week trials, with the remaining firms maintaining previous productivity levels. The ACTU further argued the nation's sluggish productivity growth, linking it to insufficient investment in capital, research, and people. They cited research from Dr Jim Stanford's analysis from the Centre for Future Work, which shows a significant gap between productivity and wage growth. It found if wages kept pace with productivity since 2000, average earnings would be approximately 18 per cent higher or about $350 more per week. The Productivity Commission's recent research notes that Australians are working record hours, but without the complementary business investment necessary to enhance efficiency. ACTU president Michele O'Neil is pushing the dual benefit of shorter hours, stating, 'Shorter working hours are good for both workers and employers. They deliver improved productivity and allow working people to live happier, healthier and more balanced lives.' Ms O'Neil emphasised the union's vision for fairness amid technological change: 'Unions want all Australians to benefit from higher productivity – not just those with money and power...' 'For workers in some sectors, shorter working hours can be delivered through moving to a four-day work week. For other people, this could be achieved through other ways, such as more time off or fairer rosters. A fair go in the age of AI should be about lifting everyone's living standards instead of just boosting corporate profits and executive bonuses.'
Perth Now
4 days ago
- Business
- Perth Now
Union to push for four-day work week at economic roundtable
The Australian Council of Trade Unions (ACTU) will present a proposal advocating for reduced working hours, including a four-day work week, at next week's Economic Reform Roundtable in Canberra. This initiative aims to ensure Australians gain from productivity improvements and technological advances, and say it's 'key to lifting living standards'. Unions argue that a shorter working week is essential for improving employees' quality of life. They stress that such a reduction should not come with any loss of pay or conditions, with protections covering penalty rates, overtime, and minimum staffing levels. For sectors where a four-day week is impractical, unions suggest alternatives such as increased rostered days off, extended annual leave, and redesigned rosters to improve predictability, security, and work-life balance. Supporting their case, the ACTU cites recent peer-reviewed research published in Nature Human Behaviour showing the benefits of a four-day work week, which include boosted performance, reduced burnout, and enhanced employee health and retention. This study examined nearly 2,900 employees across organisations in Australia, New Zealand, Ireland, Canada, the UK, and the US. Australian trials likewise support these findings. A 2023 study from Swinburne University involving ten Australian companies revealed that 70 per cent experienced higher productivity during four-day week trials, with the remaining firms maintaining previous productivity levels. The ACTU further argued the nation's sluggish productivity growth, linking it to insufficient investment in capital, research, and people. They cited research from Dr Jim Stanford's analysis from the Centre for Future Work, which shows a significant gap between productivity and wage growth. It found if wages kept pace with productivity since 2000, average earnings would be approximately 18 per cent higher or about $350 more per week. The Productivity Commission's recent research notes that Australians are working record hours, but without the complementary business investment necessary to enhance efficiency. ACTU president Michele O'Neil is pushing the dual benefit of shorter hours, stating, 'Shorter working hours are good for both workers and employers. They deliver improved productivity and allow working people to live happier, healthier and more balanced lives.' Ms O'Neil emphasised the union's vision for fairness amid technological change: 'Unions want all Australians to benefit from higher productivity – not just those with money and power...' 'For workers in some sectors, shorter working hours can be delivered through moving to a four-day work week. For other people, this could be achieved through other ways, such as more time off or fairer rosters. A fair go in the age of AI should be about lifting everyone's living standards instead of just boosting corporate profits and executive bonuses.'
Economic Times
15-07-2025
- Business
- Economic Times
Canada student job crisis explodes as unemployment hits highest level since 2009, triggering fears of looming recession
TIL Creatives Canada's student job market collapses as youth unemployment surges amid economic uncertainty and rising US trade tensions Canada's student unemployment rate has jumped to 17.4 percent, the highest it's been in a non-pandemic year since 2009, raising concerns among economists that it could signal a slowdown, or even a coming recession. The number, released in Statistics Canada's June Labour Force Survey, refers specifically to 'returning students,' full-time students aged 15 to 24 who intend to resume studies in the fall. It's a significant jump from 15.8 percent in June 2024, and even further above the 11.9 percent recorded in 2023. 'That's really concerning to me,' said Viet Vu, economic researcher at Toronto Metropolitan University. 'Youth unemployment is a leading indicator of what could be a recession.'The data reflects a labor market that, while posting headline job gains, 83,000 new positions in June, according to Statistics Canada, remains uneven beneath the surface. The national unemployment rate stands at 6.9 percent, unchanged from the previous month, and long-term joblessness remains a concern. The broader youth unemployment rate, which includes all 15- to 24-year-olds (not just students), was 14.2 percent in June. That's well above the pre-pandemic average of 10.8 percent (2017–2019), suggesting younger Canadians are disproportionately affected by current economic pressures. Students typically rely on summer jobs for income, experience, and savings to support their education. But this year, those positions are vanishing.'This has been a brutal summer for students to look for a job,' said Jim Stanford, director at the Centre for Future Work. 'The openings are just not there.' Economists cite multiple contributing factors: Trade uncertainty: Companies are wary of expanding payrolls amid economic instability, particularly as US tariffs on Canadian exports fluctuate. Many are choosing not to hire seasonal or junior workers this year. Companies are wary of expanding payrolls amid economic instability, particularly as US tariffs on Canadian exports fluctuate. Many are choosing not to hire seasonal or junior workers this year. Cost management: With economic forecasts showing slow growth and cautious consumer spending, firms are prioritizing cost-saving measures, starting with entry-level roles. 'When companies squeeze their budget, the first positions to go tend to be the most junior,' said Vu. 'Which tells you that these companies aren't doing well because they can't afford to hire a summer student.'The student job crisis is more acute in some regions. In Windsor, Ontario, overall unemployment was 11.2 percent, the highest in the country. Other areas, such as British Columbia and Atlantic Canada, also reported higher-than-average youth jobless rates. In response to the situation, the federal government has expanded the Canada Summer Jobs Program, adding 6,000 additional wage-subsidized jobs to the existing 70,000 placements. But experts say that may not be enough to address the depth of the issue. 'There's been some caution that employers have undertaken because the situation could go in multiple directions,' said Brendon Bernard, senior economist at analysts warn that if youth joblessness persists into the fall, it could start dragging down broader economic indicators, particularly consumer demand and future workforce development.
Time of India
15-07-2025
- Business
- Time of India
Canada student job crisis explodes as unemployment hits highest level since 2009, triggering fears of looming recession
Canada's student unemployment rate has jumped to 17.4 percent, the highest it's been in a non-pandemic year since 2009, raising concerns among economists that it could signal a slowdown, or even a coming recession. The number, released in Statistics Canada 's June Labour Force Survey, refers specifically to 'returning students,' full-time students aged 15 to 24 who intend to resume studies in the fall. It's a significant jump from 15.8 percent in June 2024, and even further above the 11.9 percent recorded in 2023. 'That's really concerning to me,' said Viet Vu, economic researcher at Toronto Metropolitan University . 'Youth unemployment is a leading indicator of what could be a recession.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Join new Free to Play WWII MMO War Thunder War Thunder Play Now Undo The data reflects a labor market that, while posting headline job gains, 83,000 new positions in June, according to Statistics Canada, remains uneven beneath the surface. The national unemployment rate stands at 6.9 percent, unchanged from the previous month, and long-term joblessness remains a concern. Youth and students hit hardest Live Events The broader youth unemployment rate , which includes all 15- to 24-year-olds (not just students), was 14.2 percent in June. That's well above the pre-pandemic average of 10.8 percent (2017–2019), suggesting younger Canadians are disproportionately affected by current economic pressures. Students typically rely on summer jobs for income, experience, and savings to support their education. But this year, those positions are vanishing. 'This has been a brutal summer for students to look for a job,' said Jim Stanford, director at the Centre for Future Work. 'The openings are just not there.' What's causing the drop? Economists cite multiple contributing factors: Trade uncertainty: Companies are wary of expanding payrolls amid economic instability, particularly as US tariffs on Canadian exports fluctuate. Many are choosing not to hire seasonal or junior workers this year. Cost management: With economic forecasts showing slow growth and cautious consumer spending, firms are prioritizing cost-saving measures, starting with entry-level roles. 'When companies squeeze their budget, the first positions to go tend to be the most junior,' said Vu. 'Which tells you that these companies aren't doing well because they can't afford to hire a summer student.' Regional disparities The student job crisis is more acute in some regions. In Windsor, Ontario, overall unemployment was 11.2 percent, the highest in the country. Other areas, such as British Columbia and Atlantic Canada, also reported higher-than-average youth jobless rates. In response to the situation, the federal government has expanded the Canada Summer Jobs Program , adding 6,000 additional wage-subsidized jobs to the existing 70,000 placements. But experts say that may not be enough to address the depth of the issue. 'There's been some caution that employers have undertaken because the situation could go in multiple directions,' said Brendon Bernard, senior economist at Indeed. Some analysts warn that if youth joblessness persists into the fall, it could start dragging down broader economic indicators, particularly consumer demand and future workforce development.
CTV News
29-06-2025
- Business
- CTV News
Economist says Canada is in a 'very good bargaining position' despite Trump ending trade talks
Watch Economist Jim Stanford weighs in on Trump's trade claims, why Canada holds strong cards, and if the digital tax will be collected Monday.
