The National Minimum Wage will be increased by $17.10 a week following a decision handed down today by Fair Work Australia’s specialist Minimum Wage Panel.
The decision will further assist low income working families to manage cost of living pressures.
Today’s decision will benefit the more than 1.36 million Australians who rely on awards to set their pay.
The decision by the independent panel lifts the National Minimum Wage by $17.10 per week, an estimated 2.9 per cent rise since the last increase in 2011.
Minimum wage and award reliant workers will see the additional pay in the first full pay period on or after 1 July 2012.
Under the Fair Work Act, the National Minimum Wage has increased 4.1 per cent in real terms.
The Australian Government, in its submissions to the independent panel, asked for any increase to the National Minimum Wage and award wages to be reflective of changes in living costs.
The increase of $17.10 a week will be welcomed by those workers on low incomes who are doing it tough.
Today’s decision by the minimum wage panel is well balanced and moderate, reflecting the underlying strength of the Australian economy in an uncertain global economic environment.
More information about the new pay rates for each modern award will be available shortly at www.fairwork.gov.au or by calling the Fair Work Infoline on 13 13 94.