2015 Wage Rate Decisions
By Steve Champion, Director of Employee Relations Strategies
Today the Fair Work Commission released their decision in the 2015 Annual Minimum Wage Rate Review.
The following quotes are sourced from the Fair Work Commissioner statement on the Annual Wage Review 2014-2015.
What was the decision?
“We have determined that it is appropriate to increase the National Minimum Wage (NMW) award by an increase of 2.5 per cent.”
Reasoning for the decision
The Commission stated that the following factors were influential in the ‘modest’ increase of NMW, which is set to impact 1.86 million Australians.
“We have had particular regard to the lower growth in consumer prices and aggregate wages growth over the past year, because they have a direct bearing on relative living standards and the needs of the low paid."
"Further, the unemployment rate has grown steadily from its recent low of 4.9 per cent in March 2011, to 6.1 per cent in April 2015 and there are other signs of under-utilisation in the workforce.”
“Additionally, relative living standards of NMW- and award-reliant employees have improved a little over the past year or two, as have the indicators of unmet need among the low paid.”
“These considerations favour a more modest increase to minimum wages.”
Free wage rates!
ER Strategies will be releasing FREE wage rate schedules reflecting this decision shortly, for key awards affecting the Franchise sector, including Retail, Fast Food and Restaurant awards. To access the wage rates, you simply need to register on their website here.
This is a superb and unique opportunity to have access to the latest wage rates affecting your business without paying a cent!
