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5.2 per cent rise in the minimum wage

Fair Work Commission president, Iain Ross, has announced a 5.2 per cent rise in the minimum wage:

"Given the current strength of the labour market, the adjustments we propose to make will not have a significant adverse effect on the performance and competitiveness of the national economy. In our view, awarding an increase in modern award minimum wages of the magnitude proposed by ACCER, some 6.5 per cent, and the ACTU - 5.5 per cent, would, in the present economic circumstances, pose a real risk of significant adverse effects to the national economy. We acknowledge that the increases we have determined will mean a real wage cut for some award reliant employees. This is an issue that can be addressed in subsequent reviews."

This equates to an extra $40 per week.

Effective from July 1st the decision will affects more than two million workers across the country, taking the hourly rate to $21.38.