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Australia Minimum Wage 2024: Expected to be raised by 3.5% from the current rate

0SAustralian minimum wages are a topic of discussion in 2024, with potential significance for citizens of the country. Australians will be able to compete with rising inflation after June 30, 2024, when the Australia Minimum Wage Increase takes effect.

July Minimum Wage of Worker

Workers who are not protected by an award or a registered agreement are entitled to the National Minimum Wage. This is the Fair Work Act of 2009’s minimum wage, which is adjusted annually. The National Minimum Wage will be $23.23 per hour or $882.80 per week as of July 1, 2023. Workers under the age of 21 must make at least $15.23 per hour. At the moment, 2.75 million Australian workers are paid this minimum wage. Individual workers will receive updated minimum pay rates after June 30, 2024.

Australia Minimum Wage 2024
Source: uksssc

In addition, the age and qualifications of the worker can affect the minimum wage. Australia does not have varying pay for different cities. Because there is just one federal minimum wage that is applicable throughout the entire nation.

Australia’s Minimum Wages Will Rise in 2024

The Australian minimum wage is determined by the Fair Work Act 2009 and is subject to annual revision. The administration of Labor has advocated for raising the minimum wage to keep up with inflation. The rate is at 3.4% at the moment. The government has advocated for an increase for the past three years.

Not merely a conceptual glitch in economic projections, the prospect is real enough that the Australian government might take it into consideration to formally recognize the worth of labor. Raising wages, according to proponents, is necessary to keep up with growing living expenses. To keep up a sustainable level of living and increase demand from customers.

Australia’s Minimum Wage for International Workers

As of July 1, 2023, the Australia Minimum Wage for International Students is $23.23 per hour, or $882.80 for a standard workweek of 38 hours. As a result, the federal minimum wage has risen from its prior level by 8.6%.

The federal minimum wage has increased by 8.6% since it was last set. The first complete pay period of the new Australia wage 2024 will be stamped on or after July 1, 2023.

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