The Fair Work Commission has increased Australia’s minimum wage by 3.75 per cent, increasing the hourly wage from $23.23 to $24.72.
About one in five Australian workers, or 2.6 million people, will be affected by the changes.
The new wage rates will come into effect on July 1.
“A primary consideration has been the cost-of-living pressures that modern award-dependent employees, particularly those who are low-paid and live in low-income households, continue to experience,” said commission Chairman Adam Hatcher.
In the 12 months to the March 2024 quarter, prices rose slightly more than expected, with the Australian Bureau of Statistics revealing the consumer price index had risen 3.6 per cent.
The Fair Work Commission has increased Australia’s minimum wage by 3.75 per cent, increasing the hourly wage from $23.23 to $24.72. That’s about $33 a week.
A substantial increase was granted in 2023 (5.75 per cent for premiums and 8.6 per cent for the national minimum) and the commission based its call on a combination of low unemployment, falling wages and high inflation.