Australia's minimum wage will increase by 5.97% to $26.44/hour from July 1, impacting millions. Award workers will see a 4.75% boost. The Fair Work Commission announced the decision after considering submissions from government, business, and unions.
Australia's Fair Work Commission will raise the national minimum wage by 5.97% to $26.44/hour and award wages by 4.75% starting July 1. The decision aims to prevent real wages from declining, though it won't fully close the gap to 2021 levels.
Australia's Fair Work Commission will increase the national minimum wage by 5.97% to $26.44/hour and award wages by 4.75%, effective July 1. The decision aims to prevent real wages from declining, though full recovery to 2021 levels is not feasible this year.
Australia's Treasurer Jim Chalmers commented on the upcoming Fair Work Commission wage review, stating minimum wage workers deserve a real increase. Unions hope for 6%, while businesses warn against it. Separately, One Nation's David Farley will be sworn in, boosting their lower house representation.
South Korea's Minimum Wage Commission held its first meeting Tuesday to set next year's minimum wage, currently at 10,320 won ($7.02) per hour. Labor unions are expected to request a steeper increase citing rising prices and declining real wages, while businesses have called for a wage freeze in opening proposals for five consecutive years. The commission will also discuss whether to apply a separate minimum wage to piece-rate workers like delivery riders, who are currently excluded from the legal minimum wage.
