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1.Market Observations, 8.Was Sticky

2 June 2018 (AFR) – Fair Work Commission increases minimum wage by 3.5 per cent

(2 June 2018, AFR, p7, by Tom McIlroy)

‘Minimum wage workers face moving into the middle income tax bracket and losing more than one-third of every extra dollar as a result of Friday’s pay increase. Australia’s minimum wage will rise by 3.5 per cent from July 1, lifting weekly rates by $24.30, following a ruling by the Fair Work Commission. The increase raises the minimum wage to $18.93 or $719.20 per week, and is marginally higher than the 3.3 per cent increase granted in 2017.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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