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The 2024 Annual Wage Review has been announced

This year, the Fair Work Commission has decided to increase the National Minimum Wage and all modern award minimum wage rates by 3.75 per cent, effective from 1 July 2024.

The Fair Work Commission labelled the cost-of-living pressures as a primary consideration in this decision-making behind the increase.

These pressures affect modern-award-reliant employees, particularly those who are low-paid and live in low-income households.

The National Minimum Wage sets a baseline pay for those not covered by modern awards or enterprise agreements, affecting a minority of employees within the national industrial relations system.

The review of modern award minimum wages is pivotal, with 121 modern awards and a handful of enterprise awards, each sets minimum wage rates based on industry or occupation, considering the National Minimum Wage.

The commission said the 3.75 per cent increase aligns with forecasted wage growth in 2024 and will modestly contribute to overall wage growth for the year.

They consider this increase as consistent with the forecast return of the inflation rate to below 3 per cent in 2025.

Along with announcing these new rates, the Fair Work Commission announced they are establishing a program for the resolution of gender undervaluation issues arising with respect of certain modern awards.

A completed gender equity research project which was undertaken in last year’s Review has permitted the commission to identify priority areas for attention.

Medical technicians were at the forefront of these priority areas which also included early childhood education and care workers, social and community services workers, dental assistants, psychologists, other health professionals and pharmacists.

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