The Fair Work Commission (FWC) has announced a 3.5 per cent increase to the minimum wage and award rates, set to take effect from 1 July.
The decision will benefit millions of Australian workers, particularly the roughly 20% employed under awards.
While inflation currently sits at 2.4% annually, the federal government had pushed for an “economically sustainable real wage increase,” without specifying an exact figure but backing a rise above inflation.
Business groups such as the Australian Retailers Association and the Australian Chamber of Commerce and Industry had urged for a more modest 2.5% increase, citing concerns about cost pressures. The Australian Industry Group proposed 2.6%, while unions lobbied for up to 4.5%.
Last year, the FWC lifted wages by 3.75% in response to higher inflation.
Source: ABC News
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