Are You Paid Minimum Wage? This is for You…

When people go to work they expect to get paid for the relative work they do. However, sometimes that’s not the case and minimum wage falls short of outweighing the risks for certain jobs. Let’s get some boring facts out of the way first so we are all on the same page.

Fact 1: The Federal Minimum Wage is reviewed every year. Although it’s reviewed every year that doesn’t mean it’ll change every year. (Lame)

Fact 2: The Federal Minimum Wage that is reviewed every year is for an adult permanent worker which obviously needs to be employed by a company to receive this rate.

Fact 3: Not all states have the same minimum wage. (That’s messed up)

Fact 4: Even though a casual worker title might sound slack, they actually receive loading on top of that Federal Minimum Wage rate which can be anywhere between 15% – 25%. (sign me up for casual)

Fact 5: If you’re under 21 then you aren’t considered an adult rate earner, which means you may be paid less. (for once being old isn’t all too bad)

Fact 6: Even though the Federal Minimum Wage is reviewed every year and a number is set, different rates apply dependent upon your industry. (Confusing, right?)

The Australian Council of Trade Unions pushed for an increase of an extra $30 per week, which was not feasible and business groups argued for an increase in the range of $7.90 to $10.50 a week.

On June 1st the Fair Work Commission decided that a wage increase of 2.4% would be in effect as of July 1 2016 across all industries.

What does this mean for you minimum wage earners? $17.70 per hour or equivalent $672.70 per week.

Happy earnings, and happy savings you lucky 1.86 million minimum wage earners.

If you want to get your eyes dirty and get all the details head over to https://www.fwc.gov.au/awards-and-agreements/minimum-wages-conditions/annual-wage-reviews/annual-wage-review-2015-16

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