Peak Business Body Says 3.75 Percent Minimum Wage Rise ‘Acceptable’

A major business peak body has said the new minimum wage increase is acceptable to Australian businesses amid the current economic situation. On June 3, the Fair Work Commission (FWC) announced that it would lift the minimum wage by 3.75 percent from July 1, taking it from $23.23 (US$15.46) to $24.10. The change will result in 2.6 million workers on minimum wages, or 20.7 percent of Australia’s workforce, earning an extra $33 a week. The new increase is well below last year’s record rise of 5.75 percent, which had sparked strong objections from the business community. In delivering the decision, the FWC noted that the current inflation rate was significantly lower than a year ago....