(At least) 2.6 million Australians are set for a wage rise from July 1

Add this to the tax cuts being given to Australians from July 1 and the fiscal impulse is red hot.

Australia’s Fair Work Commission’s annual wage review decision is today, Monday, 3 June 2024

• the annual wage decision affects minimum and award wage earners, or about one in five workers
• an increase of between 3.5% to 4% to the current minimum of A$23.23 an hour is expected

The decision is expected within the next 2 hours.

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More money in pockets will be another challenge to the RBA trying to deal with sticky high inflation.

This article was written by Eamonn Sheridan at www.forexlive.com.