Minimum wage hike has minimal effect
While some commentary had forecast a substantial increase in wage growth, thanks to the July increase in minimum wages, only a slight uptick was recorded in the September quarter.
The Fair Work Commission stunned business owners in June this year by announcing a 3.3 per cent rise in the minimum wage and minimum award rates – well above the current inflation rate of 1.8 per cent, effective from the new financial year.
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