[Australia] 3.5% minimum wage rise to benefit 2.6 million workers

Australia’s minimum wage is set to rise by 3.5 per cent from July 1, in a move which will boost the weekly take-home pay of around 2.6 million workers, Morningstar reports.

The decision, announced by the nation’s Fair Work Commission, represents a rise in real wages with inflation tracking close to 2.5 per cent.

Unions were reportedly seeking a minimum wage increase of around 4.5 per cent a year, while employer groups had sought an increase of around 2.6 per cent.

The decision - benefiting around one-fifth of all workers - will bump the average annual minimum wage to AUS$49,294 (US$32,021.38), an increase of AUS$1,666 a year for full-time employees.

Source: Morningstar

Australia’s minimum wage is set to rise by 3.5 per cent from July 1, in a move which will boost the weekly take-home pay of around 2.6 million workers, Morningstar reports.

The decision, announced by the nation’s Fair Work Commission, represents a rise in real wages with inflation tracking close to 2.5 per cent.

Unions were reportedly seeking a minimum wage increase of around 4.5 per cent a year, while employer groups had sought an increase of around 2.6 per cent.

The decision - benefiting around one-fifth of all workers - will bump the average annual minimum wage to AUS$49,294 (US$32,021.38), an increase of AUS$1,666 a year for full-time employees.

Source: Morningstar