The Annual Wage Review 2022 has been completed by the Fair Work Commission (FWC) and has resulted in an increase in the national minimum wage.
Two big announcements that you need to know about:
- The National Minimum Wage will increase by 5.2%
- Award minimum wages will increase by 4.6%
What you need to know about the National Minimum Wage increase:
The 5.2% increase equates to $40 per week and is effective as the first full pay period on or after 1 July 2022. This means if you have a weekly pay period that starts on Mondays, the new rates will apply from Monday 4 July 2022.
The new rate of pay will be $812.60 per week or $21.38 per hour.
What you need to know about the Award minimum wage increase:
The 4.6% is subject to a minimum increase for award classifications of $40 per week and based on a 38-hour week for a full-time employee. This means:
- above $869.60 per week, will get a 4.6% increase
- below $869.60 per week, will get a $40 increase
Most awards will increase on the first full pay period on or after 1 July 2022, however, for some awards in the aviation, hospitality and tourism industries, the increase will happen from 1 October 2022.
If you would like more information, you can visit: Get set for a minimum wage increase.