Australia raises national minimum wage 5.75%, currency declines

The new minimum wage rate will be A$882.80 (NZ$958.45) a week, or A$23.23 an hour. (Image: Getty)

Fri, 02 Jun 2023

By Swati PandeyAustralia’s industrial relations umpire raised the national minimum wage by 5.75% from July 1 in an effort to support low-paid workers at a time of rising living costs and a tight labour market.The new minimum rate will be A$882.80 (NZ$958.45) a week, or A$23.23 an hour, Justice Adam Hatcher, president of the Fair Work Commission, said in Friday’s decision. While only a fraction of the Australian workforce, or 0.7%, is on the minimum wage, it does have flow-on effects to other awards.The Australian dollar erased...

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