At a glance
- The Fair Work Commission (FWC) issued its Annual Wage Review decision for 2023-2024 on 3 June 2024.
- The FWC has increased the national minimum wage (NMW) and all modern award minimum rates by 3.75%.
- These new rates apply for the first full pay period starting on or after 1 July 2024.
In its Annual Wage Review decision for 2023-24, the FWC announced a 3.75% increase to the NMW and modern award minimum wage rates. The new rates will apply for the first full pay period starting on or after 1 July 2024.
This year’s increase is less than the 5.75% increase ordered in 2023, influenced by lower inflation rates and anticipated benefits of Stage 3 tax cuts and Federal budget cost-of-living measures. The FWC considered job security, workforce participation, economic performance, gender equality, relative living standards and the needs of the low paid, in coming to its decision.
From 1 July 2024, the NMW for permanent adult employees will increase from AUD23.23 per hour to AUD24.10 per hour and applicable minimum rates under modern awards will increase by 3.75%. Other rates may apply for junior employees, casual employees, trainees, or employees eligible for a supported wage.
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