Australia’s Fair Work Commission has raised the minimum wage to $915.90 per week. This change started on July 1, 2024.
The new minimum wage is 3.75% higher, making it $24.10 per hour. This change helps workers in Australia get paid fairly, especially with prices going up and the cost of living getting higher. It also helps people from other countries who want to work in Australia.
Every year, Australia looks at how much the lowest-paid workers are making and makes sure their pay is fair. Starting from July 1, 2024, workers will get at least $915.90 each week. This new wage must be paid to all workers, by law.
For employers, paying this wage helps them find and keep skilled workers from other countries. This is especially important for jobs with special rules about pay, like those in Modern Awards.
Employers must follow these new wage rules to hire overseas workers. When applying for visas, the government will check to make sure employers are paying the right wages and following the law to ensure fair treatment of workers.
What Does This Mean for Workers in Australia?
Workers in fields like retail, hospitality, cleaning, and social care will benefit the most from this wage increase. It’s a way to help them deal with higher costs of living and make sure they can afford what they need.
Each year, minimum wages are reviewed, considering factors like inflation and living costs. This year’s raise helps low-income workers and aims to keep things balanced in Australia’s economy.
In 2023, there was a 5.75% wage increase because of high inflation. Now, inflation has dropped to a low of 3.4%, and the Reserve Bank of Australia thinks it will get even better soon.
This wage increase not only helps local workers but also attracts skilled workers from other countries to Australia. It makes Australia more appealing for professionals and helps create a strong job market and stable economy.
What You Should Know
In Nigeria, the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) want to raise the minimum wage too. It has been at N30,000 for more than a year now. They suggest increasing it to N494,000, saying this is needed for workers to live decently with the current economy.
The Nigerian government, however, says it cannot afford this big increase. They estimate it would cost N9.5 trillion. Mohammed Idris, the Minister of Information and National Orientation, said that paying N494,000 is not possible right now.
Due to this disagreement, the trade unions started a nationwide strike on June 3, 2024. They wanted a higher minimum wage and also lower electricity bills. The strike stopped many key services in the country, including offices, airports, and public facilities.
Later that day, the government and unions made a temporary deal. The government agreed to a temporary minimum wage just above N60,000. This made the unions pause the strike for five days to give them time to talk more and find a final solution.
Everyone is waiting for a permanent agreement that will consider Nigeria’s economic situation and support the workers’ needs.