06 / 6 / 2017Today, the Fair Work Commission (FWC) announced its Annual Wage Review Decision for 2016-217.
It has been announced that it will lift the national minimum to $694.90 or $18.29 per hour. This represents an increase of 3.3%. This constitutes an increase of $22.20 per week to the weekly rate or $0.59 cents per hour.
The FWC’s decision makes no changes to Casual Loading rates, which is to remain at 25%.
The decision making process considered key changes in the economic environment, including real net national disposable income increasing by 6.8% over the year (to December 2016), a CPI increase by 2.1% over the year (to the March quarter 2017) and higher levels of labour productivity growth over the last 5 years.
The new rate is effective from the first pay period commencing on or after 1 July 2017.
Read more about the Annual Wage Review Decision on the FWC website.