Fair Work Commission
has announced that the national minimum wage will go from $622 per week to $640.90, or $16.87 per hour.
That’s an overall increase of $18.70 per week, compared with a $15.80 weekly rise last year.
It’s less than the $27 weekly increase called for by the Australian Council of Trade Unions, but nearly double the $8.50 rise that employers said was the most they could afford.
The decision affects more than 1.5 million employees in Australia who are reliant upon award rates of pay or the national minimum wage.
In its announcement, the Fair Work Commission said the country’s economic outlook remained sound and employment growth was expected to be stronger in 2014/15, with unemployment expected to increase only slightly in the forecast period.
More details to come.