Minimum wage increase announced
Minimum wage increase announced
The Fair Work Commission has announced a 5.2% increase to the National Minimum Wage and a 4.6% increase to minimum award wages, with threshold rules applying.
The Expert Panel for annual wage reviews (the Panel) conducted a review of the national minimum wage and decided on the increase due to the sharp rise in the cost of living and the strengthening of the labour market.
Within discussions the Panel noted that ‘it was conscious that the low paid are particularly vulnerable in the context of rising inflation’.
From 1 July 2022, the National Minimum Wage will increase by $40 per week. The National Minimum Wage will be $812.60 per week or $21.38 per hour.
The Fair Work Commission also announced an increase to minimum award wages by 4.6%, with some awards to increase from 1 July 2022, whereas others from 1 October 2022.
For more information, read Fair Work Commission’s decision and information.