Australia raises minimum wage by 1.75% or $ 13 a week
|In its annual wage review decision online, the Fair Work Commission, Australia's national workplace relations tribunal, announced that the national minimum wage to the country’s lowest-paid workers will rise by 1.75% or a $13 rise to $753.80 a week from July 1.
The 3% increase in 2019 was lower than 2018’s 3.5% rise and 2017’s 3.3%.
Peak union body the ACTU had argued for a 4% rise this year.
Key comments
“The current shock to the labor market is 'unprecedented'.”
“Unemployment and underemployment up, hours worked down.”
“Increase in wage will impact aggregate demand, impact will modest.”
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