As a result of the declaration made by the Fair Work Commission of Australia, the country's lowest-paid workers have called for celebration. As of July 1st, 2024, the National Minimum Wage has raised by 3.75%. This rise brings the minimum salary to $24.10 an hour and $915.90 a week. Both local workers and those applying for an international work visa will benefit from the hike in the minimum wage.
The minimum wage was reviewed to ensure workers were fairly compensated in light of inflation and other economic factors. Employees covered by awards or registered agreements, which contain minimum pay rates as specified by the Fair Work Act of 2009, are not subject to a rise in the minimum wage.
The increase in the minimum wage and more job prospects benefit skilled workers with work visas. Companies that match or surpass the new minimum wage have a better chance of drawing in and hiring highly qualified foreign workers, particularly for jobs covered by the Modern Awards, which offer the lowest pay rates and working conditions specific to a sector.
In conclusion, the goal of the minimum wage hike is to help low-income individuals afford the growing cost of living. Furthermore, this presents a chance for skilled professionals and those applying for work visas to consider working in Australia.
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