https://infogalactic.com/info/Rerum_Novarum
I think the translation in the OP is ok
The papal encyclical "Rerum Novarum" encouraged certain work conditions or reforms for workers (in response to some of the excesses of the Industrial Revolution):
(from its first two words, Latin for "of revolutionary change"[n 1]
> It was an open letter, passed to all Catholic bishops, that addressed the condition of the working classes.
> Of primary concern was the need for some amelioration of "The misery and wretchedness pressing so unjustly on the majority of the working class."[5] It supported the rights of labor to form unions, rejected socialism and unrestricted capitalism, whilst affirming the right to private property.
> Fair wages are defined in Rerum novarum as at least a living wage, but Leo recommended paying more than that: enough to support the worker, his wife and family, with a little savings left over so that the worker can improve his condition over time.[15]
