Australia's Minimum Wage Has Just Been Bumped Up

Australia's Fair Work Commission has just bumped up the country's minimum wage by three percent or $21.60 per week.

That takes the nation's lowest legal pay to $740.80 every seven days, a change that could drastically help around 2.3 million Aussies.

While it might not seem like a lot to some people, it could mean the world of difference to some people who are living pay cheque to pay cheque.

The move will likely be slammed by The Australian Council of Trade Unions, who said in a statement before the decision: "The Fair Work Commission should close the gap between the minimum wage and the OECD definition of relative poverty within two years so that no full-time worker is living in poverty, starting with a 6 per cent increase this year - or $43 per week

"Currently the minimum wage is below the OECD definition of relative poverty, which is 60 per cent of median earnings.

"A 10.7 per cent increase - or $72.80 per week - would be necessary this year to guarantee no full-time Australian worker lives below the poverty line."

The Fair Work Commission has been steadily bumping up the minimum wage in line with inflation (3.3 and 3.5 percent in 2017 and 2018) and today seems like a step down.

Today's wage increase will come into effect from July 1