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Hyman says unions should remember benefits over wage freeze period

Published:Monday | June 1, 2015 | 6:55 PM

Financial analyst, Ralston Hyman, says public sector unions should be reminded that their members received significant benefits from the government over the period of their five-year wage freeze.

In rejecting a five percent offer from the government, unions have said their members have suffered economically during the 2010 wage freeze.

However, Hyman says the unions should remember that public sector workers have benefited from various allowances and concessions.

 

Meanwhile, he says over the period of the wage freeze, the wage bill climbed from 125 billion in 2010 to 158 billion this year.

And Hyman notes that public sector wages accounted for 50 percent of the 80 billion dollar increase in the budgets for the period.

 

Financial analyst, Ralston Hyman

Hyman says the unions should continue to keep their commitments to the government’s economic reform programme with the International Monetary Fund.