On June 1st 2018 the Fair Work Commission increased the minimum wage by 3.5%.
The minimum wage will increase from July 1 by $24.30 per week to $719.20 or $18.95 per hour.
The current minimum wage is $694.90 or $18.29 per hour for a 38 hour week.
The Commission revealed that the casual loading of 25% will remain and further revealed that approximately 2.3 million employees or 22.7% of Australia’s workforce receive the minimum wage.
It would be our understanding that there will be mixed reactions to the minimum wage increase with major employers, including retailers who were seeking a 1.9% increase and are continuing to incur penalty rates will be concerned.
The Australian Council of Trade Unions who were seeking a $50.00 per week increase or 7.2% indicated that the increase was a step in the right direction, though have a preference for the minimum wage to be pegged at 60% of the median wage.
Details of the reasoning of the Fair Work Commission can be found on the following link:
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