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Millions of Aussies are getting pay raises this week – this is how much extra money you’ll see in your bank account
- Increase in minimum wage set to flow to other industries
- A wage increase was applied in most industries on July 1 following the decision of the Fair Work Commission
- But the aviation, hospitality and tourism industries were postponed until October
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Australians will see a surge in their bank balances this week as the minimum wage hike flows through to the last batch of workers.
The Fair Work Commission raised the minimum wage by $40 a week in June, with most prices in the industry rising as of July 1.
But the pay increase was delayed at 10 awards in the aviation, tourism and hospitality sectors that were hit hard by Covid and started on October 1 instead.
With typical paychecks coming in by the 15th of the month, this week will be the first in which the full 2.3 million Australians on the minimum wage – about a third of the workforce – will have a higher pay package.
Australians with the minimum wage in the catering industry will see a pay increase from next week
The October 1 increase impacts the Hospitality Industry Award for cafe staff and baristas, the Licensed Clubs Award for pub and kitchen staff, and the Restaurant Industry Award for serving and kitchen staff.
The airline industry is seeing an increase in the minimum wage for the Aircraft Cabin Crew Award, Air Pilots Award, Ground Staff Award and Airport Employees Award.
The tourism industry gets a boost in the Alpine Resorts Award, which covers ski field workers, chalet guests, lift operators, cleaners and childcare workers.
And the Marine Tourism and Charter Vessels Award which covers dive instructors, boat crews, tour support staff and boat hospitality staff.
The minimum wage will also be increased for cabin crew of airlines from this week
The 5.2 percent increase, which raises the minimum wage from $20.33 to $21.38 an hour, or $40 a week, was the largest increase in more than 10 years.
Some people with newer awards making more than $869 a week get a slightly lower increase of 4.6 percent.
Fair Work Commission chairman Ian Ross said in June that rising inflation hit the lowest-wage Australians the most and that they needed support.
“Inflation erodes the real value of workers’ wages and reduces their standard of living,” Ross said.
‘The lowest paid are particularly vulnerable in the context of rising inflation.’
Airport ground staff will also see an increase in their pay rate after many have been cut since travel disruptions from 2020
Prime Minister Anthony Albanese said he “absolutely welcomes” the increase.
“It justifies our position we took when we made another proposal to the FWC that we didn’t want people on the minimum wage to go backwards,” he said.
Australian inflation in the June quarter of this year reached 6.8 percent, the highest since 1990, according to the statistical office.
Since May, the Reserve Bank of Australia has aggressively raised interest rates from an all-time low to 2.35% in a bid to fend off the rise in inflation.