On Friday, the Australian Fair work Commission (Fair Work Commission) announced that Australia's statutory minimum weekly salary would rise by 24.30 yuan to 719.20 yuan.
The Fair work Commission raised the statutory minimum weekly wage by 3.5 percent, bringing the hourly salary of more than 2 million minimum-income earners to 18.93 yuan.
The increase was higher than the latest annual inflation figure of 1.9% (in the year to March). But the fair work committee's decision disappointed unions, and (ACTU), Australia's general trade union, called for a 50-yuan increase in the minimum weekly wage.
The decision came as a result of strong growth in full-time employment, which was higher than last year's review of the minimum weekly salary, with full-time employment growth in 16 of 19 industries over the past year.
In the first quarter, consumer prices rose 1.9%, while wages rose 2.1%. However, wage growth has been slow.
Ross (Ian Ross), chairman of the Fair work Commission, said the bank's research supports the conclusion that wage growth is good for economic growth. Providing real wage increases is appropriate, he says, but fails to meet ACTU's high expectations.