Australia’s Fair Work Commission has announced an increase in the minimum wage to $915.90 per week, effective July 1, 2024. This marks a 3.75 percent rise, bringing the hourly wage to $24.10.
The Australian government believes this adjustment will help mitigate the impact of economic shifts and inflation, benefiting both local workers and international work visa applicants. Employers who meet or exceed these wage standards can better attract and sponsor skilled overseas workers. The new wage rates are particularly significant for occupations covered by Modern Awards, which set industry-specific minimum pay rates and conditions.
The last minimum wage increase in Australia was announced in July 2023.
In contrast, the Nigerian government and organized labour have yet to agree on a new minimum wage, despite the statutory five-year review period expiring in April 2024. The government proposed a new minimum wage of N62,000, a 100 percent increase from the current N30,000. However, Nigerian workers are demanding a N250,000 minimum wage.
President Bola Ahmed Tinubu has postponed the proposal from the tripartite committee to allow for further discussions.
