FWA Increases Award Rates by 2.6%

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The Fair Work Commission's Minimum Wage Panel (Panel) handed down its 2013 wage decision yesterday, ruling that all award rates of pay will increase by 2.6%, effective from the first wage period after 1 July 2013. The national minimum weekly wage will increase by AUD15.80 a week to AUD622.20 which represents an hourly rate increase of 31 cents an hour to AUD16.37.

The Reasons For the Decision -

The Panel says the following matters were taken into account in reaching its decision:

- general economic conditions, which the Panel described as remaining reasonably strong, particularly in comparison to other OECD countries, together with the expectation that the economy will continue to out-perform most of the developed world, even despite the forecast of a moderation in growth over the next year..

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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