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National minimum wage to rise 3pc

Today’s increase to the National Minimum Wage (NMW) will take effect in the new financial year, at the start of the first full pay period starting on or after 1 July.

The Fair Work Commission Full Bench (FWCFB) live streamed the announcement to increase the NMW by 3 per to $740.80 per week or $19.49 per hour, which amounts to an increase of $21.60 per week or, $0.56 per hour.

When explaining their decision, the FWCFB stated: “Despite the recent fall in GDP growth, the Australian economy has performed moderately well and the relevant data are all indicative of a strong labour market”.

It stated the recent decline in GDP growth and drop in inflation led to the decision on a lower increase than in the previous financial year.

The FWCFB’s obligation to encourage employers to engage in collective bargaining with their employees and a desire to improve the relative living standards of low paid employees also led impacted the decision.

A copy of the full decision can be found here.

Employee Relations Advice Centre (ERAC) offers an industrial award service where subscribers can access a copy of the most current award and wages, including a breakdown of wages, as well as updates on any changes to the award. If wish to receive these updates, call (08) 9365 7660 or advice@cciwa.com.

► If you have any questions regarding today’s decision in preparation for the new financial year, contact CCIWA’s Employee Relations Advice Centre on (08) 9365 7660 or advice@cciwa.com.

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