Australia’s Fair Work Commission has raised the minimum wage to $915.90 per week, effective from July 1, 2024. This follows a 3.75% increase, bringing the hourly rate to $24.10.
The new wage rates apply universally from the first full pay period on or after July 1, 2024, ensuring equitable remuneration for Australia’s lowest-paid workers.
Employers must comply with these standards to attract and sponsor skilled overseas workers, especially in occupations covered by Modern Awards. Stricter visa checks will enforce adherence to Australian labour laws, promoting fair employment practices.
The increase primarily benefits workers in retail, hospitality, cleaning, and social care, addressing cost-of-living challenges and inflation.
Annual reviews of minimum wage rates consider economic factors like inflation and living costs.
The recent adjustment supports low-income earners, reflecting efforts to maintain financial stability.
While inflation has moderated, Australia’s wage increase strengthens its appeal as a destination for skilled professionals, supporting a robust labor market and economic stability.