Budget Money Big

The Fair Work Commission came to a full decision yesterday to increase the National Minimum Wage and Award based wages by 2.4 percent from 1 July 2016. The uniform percentage increase will particularly benefit female workers as at the higher award classification levels women are often more likely than males to be paid the minimum award rate, rather than a bargained rate.

For employees not covered by an award, the National Minimum Wage will increase to $672.70 per week or $17.70 per hour. This rate constitutes an increase of $15.80 per week to the weekly rate or 41 cents per hour to the hourly rate. A casual loading of 25 percent will still apply, however, will be determined by the new base rates.

As an example for award covered employees, for those covered under the General Retail Industry Award a Level 1 employee’s wage will increase by $16.89 from $703.90 per week to approximately $720.79 per week to the weekly rate of 38 hours.

In comparison to last year’s Panel decision, the minimum wage last year was increased by 2.5 percent.

The National Retail Association will be conducting reviews of the wage rates from Awards applicable to our members and drafting new ‘Award Wage Rate Summaries’. If you have any further enquiries, please contact National Retail Association at 1800 RETAIL (738 245).