Australia's minimum wage to rise 5.2%
Australian workers will get a 5.2% wage boost under the Fair Work Commission's (FWC) decision on the minimum wage today and come into effect on July 1![]()
![]()
![]()
.
Since 2021, Australia's minimum wage had been $20.33 an hour or $772.60 a week, that will now rise to $21.38 an hour, or $812.60 a week, amounting to a $40 per week increase.
Since 2021, Australia's minimum wage had been $20.33 an hour or $772.60 a week, that will now rise to $21.38 an hour, or $812.60 a week, amounting to a $40 per week increase.
FWC President Ian Ross cited the sharp increase in cost of living, along with rising inflation, as key reasons behind the decision.
The consideration is to be balanced against the need to provide greater relief to low-paid workers in the context of rising cost of living pressures,"
he said.
Currently inflation is sitting at a 20-year high of 5.1%, with Reserve Bank of Australia Governor Philip Lowe predicting inflation will reach 7% by the end of the year.
Currently inflation is sitting at a 20-year high of 5.1%, with Reserve Bank of Australia Governor Philip Lowe predicting inflation will reach 7% by the end of the year.
It is about time and a very good outcome for millions of hard working folk in Australia!
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
MooMamaLlama : well its about time Amani Koala....
we've been struggling on pitiful wages...they don't keep up with interest rates, cost of living....not to mention owning your own home.... most of us are locked out of ever earning enough, with housing costs rising in general, to ever own our own decent home (without a family of 5 living on Raman noodles for 10yrs to save enough). petrol, food, utilities, (electricity set to double over next cpl yrs) gas prices rising so no relief for those with gas cooking etc either. I AM one of those wholl never earn enough to provide my kids with an inheritance of any sort. that's where superannuation comes in. It wasn't that long ago peoples superannuation took a beating. I personally know someone who lost $115,000 off their super overnight. Even our savings aren't safe!!!
Minimum wage isn't the only one needing a boost. I also know someone on $27.80 an hour,45yrs old and highly skilled,basically runs the yard himself. been at same company (Peri) for 10 yrs and no pay rises, no bonuses, no overtime, he's actually on a lower rate than when he started there as a casual 10yrs ago. now permanent for over 7yrs, but earns less than the casuals.
how is that fair?? we are definitely NOT the lucky country any more. minimum wage is now not much less than for a permanent who worked everyday through covid etc with no bonuses, they promised but didn't deliver on covid jabs for the company, (office workers took home all the testing packs,which was seen by many) 3 Permanents on salary in office were scamming overtime on top of salary (illegal). ironically,or just typical, the female is no longer employed but the higher up 2 men are still there with company cars etc. hmmmm.
Aus is a mess. let's hope Albanese follows through on his promises. being friendly with China was a good step one n his first day... min wage to rise...what about the rest of us??
Amani koalaOP MooMamaLlama: It's definitely a good news for low paid workers, they will have a better ability to pay for the rent, groceries and energy bills, but it's disappointing for others as they don't get to share in the wage growth. Many of us are still struggling with rising inflation and cost of living, but there is nothing we can do about it...
MooMamaLlama Amani koalaOP: completely agree. its about time to raise min wage, but with extreme rises in cost of living I believe all companies large enough in a position to do so, should raise ALL wages to meet inflation