The Fair Work Commission’s Expert Panel announced on Monday, 3 June 2024 the outcome of its annual review of the national minimum wage (NMW) and minimum wages under the modern awards.
This year, the Expert Panel has increased the NMW by 3.75%, meaning that the new NMW will be $915.90 per week or $24.10 per hour.
Minimum wages in modern awards have also been increased by the same percentage – 3.75%.
These changes will come into effect from the first pay period starting on or after 1 July 2024.
Employers should take the time now to review their records and ensure that employees are paid correctly once that increase is applied (including ensuring that annualised wage arrangements are still sufficient to compensate for these increased minimum rates).
