Australians working in some key industries will see a few extra dollars in their pay packages on Friday.
Wage increases for workers falling under the Hospitality Award, Aircraft Cabin Award and Restaurant Industry Award, among others, went into effect on October 1.
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Your weekly wage will increase by at least $40.
With the typical monthly payment being sent to workers by the 15th of each month, Friday marks the first time the pay rise will be fully enforced for affected workers.
In June, the Fair Works Commission issued a decision raising the minimum wage by 4.6 percent with a minimum increase of $40 per week, based on a 38-hour week for a full-time worker.
However, in its original decision, the FWC delayed wage increases in industries affected by COVID.
Following the June decision, FWC President Justice Iain Ross said the cost of living was at the forefront of their decision.
“Given the sharp rise in the cost of living since last year’s review, the increases we have granted over the past year have resulted in a decline in the real value of the national minimum wage and modern minimum wages,” he said.
Although Australians will see some extra cash in their back pockets in these sectors, inflation in the country is still persistent.
The Reserve Bank of Australia again warned this week that CPI inflation will remain at around 7 per cent for the remainder of 2022.
https://7news.com.au/lifestyle/personal-finance/fair-work-commissions-decision-to-raise-minimum-wage-for-certain-awards-comes-into-effect-for-australians-in-a-range-of-industries-c-8534652 Minimum wage Australia: Aussies across the country will get a pay raise on Friday