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FWC increases minimum wage, minimum award rates by 3.5%
The Fair Work Commission has decided to raise the national minimum wage and minimum award rates by 3.5%, after four years of declining "real wages" for these workers. Meanwhile, more than 70% of HR leaders think employees now value financial wellbeing programs as much as physical and mental health offerings.
Announcing the minimum wage ruling this morning, President Justice Adam Hatcher said that measured against inflation since July 2021, employees reliant on these rates have seen their pay decline by 4.5% in real terms.
Their living standards have been "squeezed", and "the low paid have experienced greater difficulty in meeting their everyday needs", he said...
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