BREAKING: The minimum wage will be increased by 5.75 per cent the Fair Work Commission has confirmed. About 2.5 million Australians are currently on the minimum wage, with the increase set to come into effect from July 1 this year. 9News MORE:
The new rates will apply from July 1.FWC president Justice Adam Hatcher acknowledged that the increase would not maintain the real value of the minimum wage due to ongoing inflation."In the medium to long-term, it is desirable that modern award minimum wages maintain their real value and increase in line with the trend rate of national productivity growth," he said.
Hatcher said the commission had considered the pressures faced by low-paid workers, and the disproportionate impact of a minimum wage rise increase on women - to the point of potentially narrowing the gender pay gap. Unions had called for it to be increased in line with inflation, currently trending at an annual rate of 6.8 per cent.But businesses pushed for a 3.5 per cent increase, and argue that anything higher would leave them struggling to pay wages and bills.About 2.5 million Australians are currently on the minimum wage.
Last year, the Fair Work Commission announced a minimum wage increase of 5.2 per cent, finding that the country's lowest-paid workers were also the most vulnerable in times of rising inflation.
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