Union success remains high as work stoppages and inflation fall

Two interesting pieces of news about what’s been going on for union members in the last year:

From Statistics NZ is news that inflation, as measured by CPI, was only 2.5% for the year to March. And also from Stats NZ (they have all the best gossip) work stoppages, as a result of strikes or industrial action fell by nearly a third from the year before.

Finsec members haven’t taken any industrial action on the last twelve months, but their active campaigning for change has meant that almost all members have received a negotiated pay increase significantly above the rate of inflation. For instance AMI currently have an offer of 4% and are seeking 5%, AIL got 5.5%, AXA 3.5%, ANZ National got 4%, Diners 3.5% for 15 months, EBS 4%, BNZ 4%, PSIS 4.5%, and Westpac members are currently voting on an offer of 4.5%.

Even those perennial inflation worry-warts at the Reserve Bank negotiated 3% with Finsec members.