Increase to Federal Minimum Wage.
The Fair Work Commission has today handed down it’s annual review of the Federal Minimum Wage.
“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 2.4 per cent. The national minimum wage will be $672.70 per week, or $17.70 per hour. The hourly rate has been calculated by dividing the weekly rate by 38, on the basis of the 38 hour week for a full-time employee. This constitutes an increase of $15.80 per week to the weekly rate or 41 cents per hour to the hourly rate.
Having regard to the proposed NMW and the other relevant considerations, we have also decided to increase modern award minimum wages by 2.4 per cent. Weekly wages will be rounded to the nearest 10 cents.”
A summary of the decision can be found at: https://www.fwc.gov.au/documents/sites/wagereview2016/decisions/2016FWCFB3506.pdfBack