Fair Work Commission annual ruling lifts minimum wage by 6 per cent and award rate by 4.75 per cent - AOS for Lemmy.World - A generic Lemmy server for everyone to use.

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Fair Work Commission annual ruling lifts minimum wage by 6 per cent and award rate by 4.75 per cent

15d 15h ago by quokk.au/u/Quokka in australia@quokk.au from www.abc.net.au

In short:

The Fair Work Commission has increased the national minimum wage by 6 per cent and modern award wages by 4.75 per cent.

Australian unions are happy with the decision but businesses are disappointed.

What's next?

Some economists say the decision will not have a material impact on inflation, but others think it could increase price pressures and force the Reserve Bank to lift interest rates again.

While the national minimum wage covers a very small proportion of the workforce, about 21 per cent of all employees in Australia are paid at a minimum award rate, amounting to almost 2.8 million people.

I'm sorry but I'm what world is a fifth of a number a very small proportion?

Minimum wage and minimum award are two different things. It's phrased badly but it's saying two different things:

21% are on minimum award.
A very small proportion are on minimum wage.