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Richard Holden

Oversized pay rise is somebody else’s job

Make no mistake. Fair Work’s decision will mean more people on JobSeeker and fewer on minimum wage

The decision by the Fair Work Commission (FWC) on Wednesday reflects political reality, but it cannot mask economic reality.

In increasing the minimum wage by $40 per week or 5.2 per cent, and 4.6 per cent for “modern award minimum wages” the commission has provided a welcome and important balm to the cost-of-living wounds being felt most acutely by some of the lowest-paid Australian workers.

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Richard Holden is scientia professor of economics at UNSW Business School. Connect with Richard on Twitter.

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    Original URL: https://www.afr.com/policy/economy/oversized-pay-rise-is-somebody-else-s-job-20220614-p5ath3