Fair Work Commission to hand down annual wage | Australian Markets

More than 2.6 million low-paid Australian employees may very well be set for a enhance to their pay packets, with the Fair Work Commission simply days away from handing down its annual wage review.

The impartial physique is set to hand down its willpower in Sydney on Tuesday, with the Australian Council of Trade Unions (ACTU) pushing for a 4.5 per cent raise within the minimal wage.

This would enhance it to $25.18 per hour, lifting the wage for an annual full-time employee by $2143 to $49,770.

The FWC’s willpower, which is able to come into have an effect on from July 1, applies to about 2.6 million employees who aren’t on an present award or settlement.

The Albanese authorities has backed an above-inflation increase, past 2.4 per cent, nevertheless it has not nominated a particular quantity.

Newly put in Employment and Workplace Relations Minister Amanda Rishworth has beforehand referred to as for “an economically responsible real wage increase” whereas stating that the “setting of the minimum wage is a matter for the Fair Work Commission”.

“We do need to consider the economic conditions, but we also believe that in those economic conditions, workers deserve a real wage increase,” she mentioned earlier this month.

ACTU boss Sally McManus has lately criticised a call by the Australian Restaurant and Cafe Association to raise the minimal wage by 2 per cent, arguing the increase was beneath inflation and amounted to a actual wage cut.

The industry physique represents companies that make use of about 500,000 employees and consists of main hospitality gamers like Merivale, Fink Group and Van Haandel.

“Not only does this employer group want to dramatically cut the pay of low-paid workers, but they also have the gall in the next breath to complain that customers then aren’t spending enough in their businesses,” she mentioned.

“As far as shooting themselves in the foot, it’s a good effort because few local cafe or restaurant owners can afford for ordinary Australians to take a real pay cut.

“It will be their own restaurants, cafes, pubs, hotels and bars crying out for people with enough spare cash to go and spend their money there.”

Currently, the minimal wage is $24.10 per hour, which equates to $915.90 or an annual full-time wage of $47,627.06.