Highest minimum wage rate to hurt recovery

Original article by Adam Creighton
The Australian – Page: 1 & 4 : 27-Jul-20

Data from the OECD shows that Australia has the world’s highest minimum wage, at $12.60 per hour when measured in purchasing-power adjusted US dollars. Australian Industry Group CEO Innes Willox says the data refutes arguments that the nation’s minimum wage is too low; he warns that its high level will ensure that younger people and those with limited skills will face longer periods of unemployment and underemployment. Willox adds that the minimum wage has increased by 8.5 per cent since 2017, with the Fair Work Commission approving a 1.75 per cent rise in June.

CORPORATES
ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIA. FAIR WORK COMMISSION

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