Carey Group Quarterly Newsletter
Minimum Wage Increase
The Fair Work Commission has recently announced significant changes to both the National Minimum Wage and minimum award wages, effective from 1 July 2024.
In this update, the National Minimum Wage will see a 3.75% increase, resulting in a new weekly rate of $915.90 or $24.10 per hour. This adjustment will apply to employees not covered by an award or registered agreement and will take effect from the first full pay period on or after 1 July 2024. Additionally, minimum award wages will also rise by 3.75%, with the new rates applicable from the first full pay period starting on or after 1 July 2024. Most employees are covered by an award, which outlines industry-specific minimum pay rates and employment conditions. These changes aim to ensure fair compensation and uphold employment standards across various sectors.
For more questions regarding minimum wage increases and how that may impact your business, call us on 074760 5900 or email us on info@careygroup.com.au
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