Saturday, June 5, 2010

Minimum wage

Saw this story in the Sydney Morning Herald on Thursday.

'Australia's 1.4 million minimum wage earners have been awarded a pay rise of $26 a week, just $1 less than that claimed by the unions.

Fair Work Australia announced on Thursday that the national minimum wage would rise from $544 to $569.90 a week, or $15 an hour, on July 1, 2010

The unions had been pushing for a $27 a week increase to make up for last year's pay freeze, but employer groups wanted any increase limited to $12.50.

The new minimum wage will come into effect from July 1.'

AUD$ 15 is rougly equivalent to around K32. It may seem alot but nowadays it is very hard especially for families to survive on AUD$569/week or AUD$ 1,138 a fortnight. Costs like rent, fuel, public transport and food alone usually take up three quarters of the weekly budget.

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