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Fair Work Commission minimum wage: a boost for millions of Australian workers

The Fair Work Commission increased Australia’s minimum wage by 3.75 per cent, increasing the hourly pay rate from $23.23 to $24.72.

Around one in five Australian workers, or 2.6 million people, will be affected by these changes.

The new pay rates will take effect July 1, resulting in an increase of $33 per week for minimum wage workers.

“A primary consideration has been the cost-of-living pressures that modern grant-dependent employees continue to face – particularly those who are low-paid and live in low-income households,” the commission chair said. , Adam Hatcher.

In the 12 months to the March 2024 quarter, prices rose slightly more than expected, with the Australian Bureau of Statistics revealing the Consumer Price Index increased by 3.6 per cent.

Fair Work Commission minimum wage: a boost for millions of Australian workers

The Fair Work Commission increased Australia’s minimum wage by 3.75 per cent, increasing the hourly pay rate from $23.23 to $24.72. That’s about $33 per week.

A substantial increase was granted in 2023 – 5.75 percent for grants and 8.6 percent for the national minimum – with the commission basing its call on a combination of low unemployment, falling wages and high inflation .

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