As many as three million Australians will receive a 4.75 per cent pay increase following a decision by the Fair Work Commission to raise the national minimum wage.
From July 1, the minimum wage will increase to $1004.90 per week, or $26.44 per hour, bringing the annual salary for minimum wage workers to $52,254.80—an increase of nearly $3,000 compared to the previous rate of $49,296.
The hourly rate will rise by $1.49 under the new ruling.
The increase is lower than the six per cent rise sought by the Australian Council of Trade Unions, which argued that real wages have fallen by around 4.5 per cent since March 2021.
Business groups, however, had warned against higher increases, arguing that rapid wage growth could place additional strain on employers already facing economic pressures.
The government supported a wage increase but did not propose a specific figure ahead of the decision, while emphasising the need for any rise to remain sustainable amid ongoing cost-of-living challenges.
