Millions of Australians will receive a weekly pay increase of about $47 as minimum and award wages are bumped up to catch up to rising inflation and cost of living expenses. 7NEWS
The Fair Work Commission on Friday announced the rise in its annual wage review, revealing the national minimum wage and the minimum awards rate would increase by 5.75 per cent or about $46.70 per 38-hour week.Looking for a new job or job candidate? Post jobs and search for local talent onWages will lift to about $22.61 per hour or $859.32 per week, according to the Fair Work Commission.
“We have placed significant weight on the impact of the current rate of inflation on the ability of modern award-reliant employees, especially the low-paid, to meet their basic financial needs,” he said. “We acknowledge that this increase will not maintain the real value of modern award minimum wages, nor reverse the reduction in real value which has occurred over recent years.
The ACTU was calling for a 7 per cent increase this year, or about $57 a week for a full-time worker on minimum wage, to bring wages in line with inflation, which sits at 6.8 per cent in the year to April.
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Millions of Aussies to receive pay rise after boost to minimum wageMillions of Australians will receive a weekly pay increase of about $47 as minimum and award wages are bumped up to catch up to rising inflation and cost of living expenses. 7NEWS
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