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    Record profits, tight labour market, time to strike?

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    Highlights
    • Majority of Australian companies (more than 60%) reported profit increases in FY22.
    • A tight labour market with an unemployment rate at 3.4% - the lowest since records began.
    • Record profits and tight labour market now fuelling threats of industrial action across the country.

    Journalists from Channel 9 have mounted a campaign on Twitter demanding their ?fair share? after the company posted a 53% increase FY2022 profits.

    The Twitter campaign by Nine Entertainment employees is the tip of a very deep iceberg of disgruntled workers who are now demanding more from cashed up Australian companies.

    The situation is a powder keg.

    Workers who have been experiencing higher living costs and low wage growth are now leveraging record low unemployment to demand a greater slice of corporate Australia?s profits.

    Industrial action is already beginning to bite the public sector.

    NSW nurses and midwives have walked off the job and rail workers are threatening to follow.

    A public service wage freeze in the Northern Territory is sparking strike action from teachers, prison officers, nurses and firefighters.

    As Australia faces its worst labour shortage in history, companies may need to meet the new demands from employees just to stay in business.

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