This morning the Full Bench of the Fair Work Commission has increased the National Minimum Wage by 5.75%, effective from 1 July 2023.
The FWC cited a range of issues impacting this decision, including the current high inflationary rate and relative low unemployment, as well as issues around gender equality and job security.
While stating they were not adjudicating between competing claims, the outcome nevertheless represents the upper percentile between the ACTU’s 7% claim and industry claims of between 2.5% and 3.8%.
This will impact those industries operating in price-taking markets, especially smaller growers where margins may be thin to start with. Employers will need to adjust their payroll systems from the first pay period on or after 1 July this year.
Recent Comments