The Australian Fair Pay Commission (AFPC) handed down its third annual determination at 2.00 pm today.
In today's determination, the AFPC increased the minimum weekly wage ($522.12) by $21.66 per week to $543.78. This equates to an increase in hourly rates from $13.74 per hour to $14.31 per hour.
Adult rates of pay have been increased by $0.57 per hour or $21.66 across the board. There are no tiered increases as has been the case in the past, with different levels of increase for employees earning less than or more than $700.00 per week. These increases will be effective from 1 October 2008.
In making the adjustment, the AFPC is required to have regard to a variety of issues including employment levels and competitiveness around the country, in addition to the capacity of unemployed and low paid employees to obtain and remain in employment.
The AFPC determination represents a slightly more generous outcome than was anticipated. The ACTU was pushing for a $26.00 per week increase whilst large employer organisations supported increases of between $10.25 and $13.30 per week.
All employers that are constitutional corporations (foreign, trading or financial corporations) or who engage employees in Victoria, the ACT and NT must ensure that they do not pay their employees less than the new minimum wage rates.
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