Original article by Anna Patty
The Age – Page: 23 : 19-Apr-18
Economic modelling undertaken by the ACTU suggests that increasing the minimum wage by $A50 a week would result in up to 57,000 jobs being created in the first year, and 30,000 in the following year. The ACTU’s modelling, which was included in its submission to the Fair Work Commission’s annual review of the minimum wage, is based on the assumption that much of the increase would be returned to the economy the in form of higher consumer spending. Independent economist Saul Eslake and the Australian Industry Group have questioned the ACTU’s modelling.
ACTU, AUSTRALIA. FAIR WORK COMMISSION, THE AUSTRALIAN INDUSTRY GROUP, UNIVERSITY OF TASMANIA