The Australian Council of Trade Unions (ACTU) are calling for a 5% increase to the minimum wage, which will come into effect on 1 July 2024.
With business profits well above pre-pandemic levels, employers can easily afford a fair increase.
This would support some of Australia’s lowest paid workers who are the most impacted by inflation. It would especially benefit women and part time workers, as three in five award workers are women and two in three are part time.
To put this increase into context, remember that CBA (who posted a $10 billion profit last financial year) could fund the full 5% increase for 2.9 million workers and still be one of the most profitable businesses in Australia.
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