How much will the minimum wage increase in 2022?

How much will the minimum wage increase in 2022?

From 1 July 2022, the National Minimum Wage will increase by $40 per week, which amounts to an increase of 5.2%. The new National Minimum Wage will be $812.60 per week or $21.38 per hour. Most employees are covered by an award.

When will awards increase in 2022?

Most awards will increase from the first full pay period on or after 1 July 2022. For some awards in the aviation, hospitality and tourism industries, the increase will happen from 1 October 2022. The affected awards are:

Is inflation high in Australia right now?

Australia Q2 Inflation Rate Highest in Over a Year. Australia’s consumer price inflation rose to 2.1 percent year-on-year in the second quarter of 2018 from 1.9 percent in the previous period, but slightly below market expectations of 2.2 percent.

What is the inflation rate in Australia in 2022?

In the long-term, the Australia Inflation Rate is projected to trend around 2.30 percent in 2022 and 2.50 percent in 2023, according to our econometric models.