Australia minimum wage to rise 4.75% from July 1

Key facts

• Australia's minimum wage will increase by 4.75% effective July 1.
• The new minimum weekly wage is A$1,004.90.
• The new minimum hourly wage is A$26.44.
• Approximately 2.8 million lower-paid workers will receive the pay rise.
• The Fair Work Commission cited economic uncertainty and rising inflation.

Australia's decision to raise its minimum wage by 4.75% from July 1 aims to protect the purchasing power of its lowest-paid workers amidst economic uncertainty and inflation. The Fair Work Commission noted that tighter monetary policy is expected to slow the economy and that inflation has accelerated due to oil supply disruptions. The increase is intended to ensure workers are not worse off in real terms.