Resistance to raising the minimum wage reflects obsolete economic thinking
- Written by Jim Stanford, Economist and Director, Centre for Future Work, Australia Institute; Honorary Professor of Political Economy, University of Sydney
Fewer than 2% of Australian employees work for the minimum wage (now $19.84 an hour). But the federal Fair Work Commission’s annual decision on how much to increase the minimum wage also helps determine pay rises for up to a third of Australian workers.
The adjustment, which comes into effect on July 1, flows through to those paid under...
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