Late last week the Fair Work Commission recently increased Australia’s minimum wage to $18.93 an hour. Minimum weekly wages are estimated to increase by some $24.30 as a result of this 3.5 per cent rise, which came in far beyond the current inflation rate of 1.9 per cent.

The decision is a compromise in the face of lobbying from the ACTU for a $50 rise in weekly pay and opposition from business groups asking for an increase limited to $13.20.