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Issue No. 261 | 29 April 2005 |
Lest We Forget
Interview: Australia@Work Unions: State of the Union Industrial: Fashion Accessories Legal: Leg Before Picket Politics: Business Welfare Brats Health: Cannabis Controversy Economics: Debt, Deficit, Downturn History: Politics In The Pubs Review: Three Bob's Worth Poetry: Do The Slowly Chokie
Dick Tracy Booted In Blacktown Picnic On for Working Families Skinny Pay Starves Weight Watchers Aged Care Workers Off Their Feet Unions Urge Fair Go For Timorese
The Soapbox The Locker Room Culture Parliament
Labor Council of NSW |
News Banks Get Work For Free
Almost half of all finance sector workers do unpaid overtime, according to the Australian Bureau of Statistics figures, adding up to almost half a million hours every week. Based on the average hourly rate in the finance sector, this equates to $13.5 million in unpaid wages per week or $700 million a year. Of the 132,200 employees who undertook overtime on a regular basis 23,000 would consistently perform more than 15 hours overtime a week. The 1,171,000 hours of overtime worked each week represents a 19% increase between 2000 and 2003. "These figures are staggering and reflect the amount of pressure finance workers are under as their employers seek to cut costs and demand greater output from less staff." The union's National Assistant Secretary, Cath Noye said Last year the ABS revealed that overtime had increased 4% since 2000, to 37% of the workforce. Just over a third of the overtime workers were paid expressly for those extra hours, with one in ten regularly doing unpaid overtime. According to the ILO one in five Australian workers put in 50 or more hours per week. Things Fall Apart The growing issue of excessive hours will be examined at a special seminar being hosted by Unions NSW. It brings together leading experts in the fields of ethics, family, work and social research to examine the effects of an increasing workload on society. The seminar, Things fall Apart: What is work doing to families and community, is set down for the 3rd June 2005 at the Australian Museum Theatrette, College Street, Sydney For more information, or to RSVP, contact Neale Towart at Unions NSW on 9264 1461, or email [email protected]
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