Reserve Bank of Australia (RBA) official reports

Fair Work Commission Raises Australia's Minimum Wage by 3.75% from July 1, Affecting 2.6 Million Workers

Jun 3, 2024, 01:10 AM

The Fair Work Commission has announced a 3.75% increase in Australia's national minimum wage, effective from July 1. This decision, announced by Fair Work Commission President Adam Hatcher on Monday morning, impacts approximately 2.6 million workers, predominantly women, who are on minimum and award wages. The increase translates to an additional $33 per week for full-time workers, bringing the weekly minimum wage to $915.91 based on a 38-hour workweek. The move is expected to assist the Reserve Bank of Australia (RBA) in its efforts to return inflation to the 2-3% target by next year. Shadow Environment Minister Jonathon Duniam has welcomed the decision, calling it 'good news' for many households across Australia.