Economists are warning the decision to lift the minimum wage will increase inflation and interest rates. jekearsley 9News DETAILS:
The decision equates to a $40 weekly pay rise for millions of workers.
Casual employees covered by the national minimum wage also get at least a 25 per cent casual loading. "We accept that the approach we have adopted will result, albeit minor, compression in relativities," he said. He said the strength of the labour market would not have a "significant adverse effect" on the national economy."We acknowledge that the increases we have determined will mean a real wage cut for some award-reliant employees," he said.Awards in the aviation, tourism and hospitality sectors will not have to incorporate the new wage rises until October 1 due to "exceptional circumstances.
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