The Fair Work Commission increased Australia's minimum wage by 3.5 percent to AUD 719.2 a week starting on July 1st, 2018, citing a healthy national economy and labour market. The 3.5 percent increase is well above the 1.9 percent rate of inflation, meaning a real rise in wages of 1.6 percent for Australia’s lowest paid workers. Minimum Wages in Australia averaged 615.17 AUD/week from 2007 until 2018, reaching an all time high of 719.20 AUD/week in 2018 and a record low of 522.12 AUD/week in 2007.
Minimum Wages in Australia is expected to be 740.00 AUD/week by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Minimum Weekly Wage is projected to trend around 780.00 AUD/week in 2020, according to our econometric models.