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ARTICLE · 05 JUNE 2024

The Fair Work Commission's Annual Wage Review 23-24

Piper Alderman
Piper Alderman
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Piper Alderman

Piper Alderman

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Modern award increase; national minimum wage increase; review rates before 1/7/24; key takeaways.

AustraliaEmployment and HR
Emily Haar
Emily Haar
Erin McCarthy
Erin McCarthy
Demi Harford
Demi Harford
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The Fair Work Commission issued its Annual Wage Review Decision 2023-24 on 3 June 2024, increasing both the National Minimum Wage and all Modern Award minimum wages by 3.75 per cent. This increase will be effective from 1 July 2024.

The Decision

From 1 July 2024, the National Minimum Wage and all Modern Award minimum wages will be increased by 3.75% as a result of the Fair Work Commission's Annual Wage Review Decision.

In their determination, the Fair Work Commission considered the expected growth of wages in 2024, as well as the cost-of-living pressures that employees are currently experiencing across Australia. The Commission also noted that it would not be appropriate to significantly increase Award wages above the current inflation rate, due to the fact that labour productivity growth has not escalated in the past four years.

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