Millions of ns may soon receive a pay rise following Prime Minister Anthony Albanese’s historic election victory on Saturday.
Before the election, Mr Albanese urged the Fair Work Commission to increase the minimum wage to at least match inflation, which is at 2.4 per cent.
‘The idea that a Labor government would ever advocate for a below-inflation increase, that people on the minimum wage should go backwards – that’s not the party I belong to and not the party I lead,’ Albanese said at the time.
But unlike in the previous election when he backed a 5.1 per cent increase to match inflation, this time Albanese refused to nominate a specific figure.
‘We recommend that the FWC should go further and provide an economically sustainable real wage increase to ’s award workers,’ Mr Albanese said.
‘An increase in minimum and award wages should be consistent with inflation returning sustainably to the RBA’s target band this year, while providing further relief to lower income workers who continue to face cost of living pressures.’
’s national minimum wage is $24.10 per hour, equating to $915.90 for a 38-hour week, or $47,626.80 annually. Casual workers receive a 25 per cent loading, taking their hourly pay to approximately $30.13.
Casual employees receive an additional 25 per cent loading, bringing their hourly rate to approximately $30.13.
If the Fair Work Commission approves a 2.4 per cent increase, the minimum wage would rise by 58 cents per hour to $24.68 – or an extra $21.98 per week.
The Commission conducts its Annual Wage Review between March and June, with any changes typically taking effect from July 1.
A minimum wage rise will benefit the estimated 180,000 workers currently on the minimum wage, as well as 2.6 million workers across 121 awards that will also be adjusted.
Since Mr Albanese became Prime Minister in May 2022, the national minimum wage in has increased by 8.5 per cent.
This includes a 5.2 per cent rise in July 2022 and a 3.75 per centincrease in July 2024
In a seperate decision announced in March, the Albanese government revealed it will lift the award rate for naged care workers.
Registered and enrolled nurses will see an average 12 per cent increase in their award wage. The increases will be delivered in three installments: 1 March 2025, 1 October 2025, and 1 August 2026.
The prime minister has secured a second term in office with Labor increasing its majority in a decisive result.
With 70 per cent of the vote counted, Labor has won 85 seats with the coalition going backwards to sit on 35 seats, while 19 seats remain in doubt.
Labor saw large swings across multiple states, booting the coalition out of all seats in Tasmania and Adelaide, while making significant gains in opposition heartland in Queensland.
Among the significant wins for Labor was Peter Dutton’s electorate of Dickson, as he became the first opposition leader to lose his seat at an election.