Australia raises national minimum wage 5.75%, currency declines

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)
Bloomberg
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...

More Bloomberg

Firm wants to make purchasing cannabis super easy
Retail

Firm wants to make purchasing cannabis super easy

Verano invites shoppers to grab a basket and get their pot direct off the shelf.

Bloomberg 29 Jun 2025
Iran-Israel conflict spreads to hacks on banks, crypto
Bloomberg

Iran-Israel conflict spreads to hacks on banks, crypto

Pro-Israel hackers announced a new breach targeting an Iranian crypto exchange.

Bloomberg 19 Jun 2025
Here are the 10 best hotels in the world
The Life

Here are the 10 best hotels in the world

Its top 10 list consists entirely of tied scores for the top prize.

Bloomberg 15 Jun 2025
Afghan refugees should be treated same as South Africans
Bloomberg Opinion

Afghan refugees should be treated same as South Africans

The greater outrage is the suspension of a refugee programme that is so badly needed.

Bloomberg 17 May 2025