On 30 May 2019, the Fair Work Commission (FWC) handed down its annual minimum wage decision opting to increase the National Minimum Wage (NMW) and all modern award minimum wages by 3%.
The 3% increase means that the new NMW will be $740.80 per week or $19.49 per hour. This amounts to an increase of $21.60 per week.
The FWC decided to award a lower increase this year than last year having regard to the economic environment (in participial the recent fall in GDP growth and the drop in inflation) and the tax-transfer changes which have provided a benefit to low-paid households.
The FWC is satisfied that the level of increase will improve living standards of those who are reliant on the NMW and modern award minimum wages, however, it does not consider that the 3% increase will lead to any adverse inflationary outcome or have any measurable negative impact on employment.
