FWC announces increase to Federal Minimum Wages.
The FWC has today announced the result of the Annual Wage Review 2014-15.
Below is an extract of the decision:
We have determined that it is appropriate to increase the NMW and the factors identified in our decision have led us to award an increase of 2.5 per cent.
The national minimum wage will be $656.90 per week, or $17.29 per hour. ... This constitutes an increase of $16.00 per week to the weekly rate or 42 cents per hour to the hourly rate.
Having regard to the proposed NMW and the other relevant considerations, we also consider that it is appropriate to adjust modern award minimum wages by a moderate amount. ...the considerations to which we have referred have led us to also increase modern award minimum wages by 2.5 per cent. Weekly wages will be rounded to the nearest 10 cents.
The determinations and order giving effect to our decision will come into operation on 1 July 2015.
The timetable for the Annual Wage Review 2015–16 will be announced in the third quarter of 2015.Back