Source: SmartCompany.
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The Fair Work Commission (FWC) will increase the minimum wage for employees by 3.75%, factoring in tough economic conditions with long-term goals such as closing the gender pay gap.
The new National Minimum Wage and awards wages will go into effect from July 1 – with the commission factoring in lingering inflation, living standards, and a relatively strong labour market.
What is the minimum wage in 2024?
The commission announced the results of the 2024 Annual Wage Review this morning, finding the minimum wage should lift to $24.10 an hour for full-time workers.
The decision means full-time workers will see a pay increase of approximately $33 a week to $915.91,
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Simon Crerar is editor-in-chief of SmartCo Media. Previously, he was the founding editor and then GM of BuzzFeed Australia. He began his career on Fleet Street as a tech reporter for The Times, and has also worked for the Sydney Morning Herald and News Corp Australia. He is co-founder of *PS Media, a collaborative local news startup, lives on LinkedIn @simoncrerar, and very occasionally tweets/Xs at @simoncrerar.
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