Fair Work Commission minimum wage: Boost for millions of Aussie workers

The Fair Work Commission has increased Australia’s minimum wage by 3.75 percent, raising the hourly wage from $23.23 to $24.72.

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

The new wage rates will come into effect on July 1.

“A primary consideration has been the cost-of-living pressures that modern workers who rely on rewards – especially those who are low-paid and live in low-income households – continue to experience,” said Adam Hatcher, chairman of the committee.

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 rose 3.6 per cent.

A substantial increase was handed out in 2023 – 5.75 percent for pay 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.