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Australian minimum wage increased by 3.75%

The minimum wage will increase by 3.75% on July 1

  • from A$23.23 per hour to A$24.10

The Australian Fair Work Commission (FWC) said the cost of living of household wages was its main consideration in making this decision, and the increase was consistent with expectations of a return of inflation on target next year.

Last year, the increase was 5.75%.

The context is here:

The increase in spending that rising wages will, at the margin and all things being equal (p.s. it never is), add to upward price pressures and make the task of the Reserve Bank of Australia to contain inflation a little more difficult. I don’t see the Bank raising the cash rate, but it’s certainly likely to be maintained for a little longer.

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