Workers will be promised a boost to their salaries from a new Labor formula for a "living wage", in a workplace overhaul that acts on union demands but appears certain to increase costs for employers.
"Along with reversing the cuts to penalty rates, this sensible change will be good for workers and good for the economy." The national minimum wage is currently $18.93 per hour or $719.20 a week, assuming a working week of 38 hours. While the Chamber of Commerce and Industry estimates about 200,000 workers earn the minimum wage, it fears a new regime because the commission's decisions can flow through to about 2.3 million Australians who work on awards, leading to the estimate of an $8.7 billion cost to employers.
Show us how it would work for me it ends up as a vicious cycle
Who pays for this?
Great picture, showcasing the diversity at the heart of the union movement 🙂
Go go go pinky bill!
This worries me, as soon as wages go up, goods & services prices will increase negating the wage rise anyway. A tax cut would be much more help.