Australia's Fair Work Commission will decide on any rise in the national minimum wage when it announces its review decision in June.
The Australian Council of Trade Unions (ACTU) submission calls for a +7% rise
- more than 2.6 million workers on minimum and award wages would be entitled to a new minimum hourly rate of $22.88
The Australian government will submit its proposal on Friday. Treasurer Jim Chalmers hasn't specified a number:
- "We've been incredibly clear, we want to get wages moving again, it's common sense to begin with the lowest-paid workers,"
- "Our submission will reflect the fact that we don't want to see people who are on the lowest incomes in this country fall further behind."
I posted earlier on the job vacancy data released earlier, here (scroll down):
While the number slipped again vacancies are close to their historical high.
The Reserve Bank of Australia next meet on April 4. They'll be eyeing:
- a super-strong jobs market
- the prospect of a jump in wages
- still high inflation
I also posted earlier on another 2 of Australia's 'big four' banks expecting a pause at the April 4 RBA meeting:
Given the strong jobs data and the prospect of wage hikes the level of confidence in an RBA pause is being dialled back.
