Millions of Australian workers will start next month with a pay rise, delivering a boost to household incomes amid ongoing cost-of-living pressures.
The Fair Work Commission (FWC) has approved an increase in pay of 5.97 per cent, with the new base-rate being $26.44 per hour and $1,004.90 per week.
An increase in award rate has also been implemented by the FWC that is likely to affect an estimated 20 per cent of the working population.
Following the wage review lodged by the government, business groups, and unions, the FWC aims to assist young Australians in keeping up with rising living costs and preventing deteriorating living standards.
Coles employee Rhys Little, who has an entry-level position at the supermarket, said the increase would help young Australians in positions like his.
“It will be a pretty good boost to young Australian workers considering the cost of living is going up all time,” Mr Little said.
“A lot of young people are often having to take two jobs if they want to move out and all that sort of stuff.
“I get a good amount of hours but the increase in pay will surely help me out in the future, especially considering I want to move out soon.”
Australian Treasurer Jim Chalmers said in a media release by the wage increase was necessary.
“This is the pay rise millions of Australian workers need and deserve,” Mr Chalmers said.
“Under Labor, wages are higher, income taxes are lower, and we’re helping first home buyers get into the housing market.”
The changes will come into effect on July 1.
