Fair Work Commission boosts minimum wage and award rates nationwide
- 2 days ago
- 1 min read
Australia’s minimum wage will rise by 5.97 per cent from July 1, while workers on minimum award wages will receive a 4.75 per cent pay increase following the Fair Work Commission’s annual wage review.
The new national minimum wage will increase to $26.44 per hour, or $1,004.90 per week for full-time workers.
The changes are expected to benefit millions of Australians, including nearly 2.8 million employees who rely on award wages. Many of these workers are employed in industries such as hospitality, retail, healthcare and support services.
The Fair Work Commission said the decision was made during a difficult economic period, with rising inflation, higher fuel prices and global uncertainty continuing to affect households and businesses.
Unions welcomed the increase, saying it would help lower-paid workers manage growing living costs and provide some financial relief.
Business groups, however, warned the higher wages could add pressure to struggling businesses already dealing with rising expenses, interest rates and weaker economic conditions.
The Commission also confirmed it will phase out the lowest ongoing award classification, lifting the minimum base pay level for permanent employees.
Economists remain divided on the broader impact. Some believe the wage rise will have little effect on inflation, while others warn it could increase business costs and keep pressure on interest rates later this year.
Source : ABC News
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