4 Jun 2013

Minimum wage to rise by $A15.80 p/w

9:15 am on 4 June 2013

The national minimum wage in Australia is to rise by $A15.80 per week. Neither business groups nor unions are happy about the amount announced by the Fair Work Commission on Monday.

The increase in the minimum wage will bring the hourly rate to $16.37 for a pay packet of $622.20 a week from July 1, from $606.40 currently.

ACTU secretary Dave Oliver said it amounts to $A1.80 extra per day and barely covers the rise in the cost of living.

Australian Chamber of Commerce and Industry chief executive Peter Andersen said the rise is excessive and would cost business $A1.5 billion.

Australian Retailers Association executive director Russell Zimmerman said the increase would lead to job losses at retailers struggling to keep their heads above water.

AAP reprots only the federal government seems pleased with the decision, with Treasurer Wayne Swan calling it well balanced.