The site uses cookies to provide you with a better experience. By using this site you agree to our Privacy policy.

Minimum Wage Increase

Minimum Wage Increase

Stephany Dobbelstein

The Fair Work Commission (FWC) has announced a 3.75% increase to the minimum wage, impacting 121 modern awards. This significant decision directly affects approximately 2.6 million employees, which is around 20.7% of the Australian workforce. These changes will also influence wages for about a quarter of all Australian employees through various means.

The increase is in line with the forecasted wages growth for 2024 and supports the anticipated return of the inflation rate to below 3% in 2025.

Additionally, the FWC is committed to addressing gender undervaluation issues in specific modern awards, particularly in fields like early childhood education, disability home care, social and community services, dental assistance, medical technology, psychology, and pharmacy. A program will be established to resolve these issues by the next Annual Wage Review.

Contact your Moore Australia advisor if you require any HR assistance or would like to understand what this means for you and your business.