Business
Resistance to raising the minimum wage reflects obsolete economic thinking – The Conversation AU
A hike in the minimum wage could jeopardise Australia’s post-COVID recovery, says the Morrison government. That’s an outdated economic idea.
Fewer than 2% of Australian employees work for the minimum wage (now $19.84 an hour). But the federal Fair Work Commissions annual decision on how much to increase the minimum wage also helps determine pay rises for up to a third of Australian workers.
The adjustment, which comes into effect on July 1, flows through to those paid under awards, many on individual contracts and even some enterprise agreements (whose wage increases effectively track the minimum).
Last years increase of 1.75% was the…
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