minimum wage rise

Fair Work Australia this week lifted the minimum wage by $26 a week or 69c an hour. The minimum wage is now $15 an hour or $569.90 per week. Whilst the agreement was greeted by the ACTU as a very good outcome for working Australians, it actually represents a cut in real wages, the 4.8 percent increase is below the official Consumer Price Index, which has risen 5.4 percent over the past 21 months since the last rise.