Increases to the Minimum Wage

Inflation is still rampant, and costs are still on the rise all around. Last week, the Fair Work Commission announced a 5.75% increase the national minimum wage, effective 1st July 2023. This follows an increase of 5.2% last year (June 2022).

This will be a welcome decision for any employee on the award minimum wages, as the cost of living pressures still continue to climb at near record levels. However, it is one more cost challenge that businesses have to face.

For easy reference, here is a quick link to the Timber Industry Award. You can also find any other awards here.