The Albanese Labor Government is backing another pay rise for low‑paid workers to help with the cost of living.
Our economic plan is all about ensuring Australians earn more and keep more of what they earn.
After the Australian Labor Party advocated to the Fair Work Commission during the election campaign, today the Government has also made a submission to the FWC recommending they award an economically sustainable real wage increase to Australia's award workers.
This will help around three million workers across the country, including cleaners, retail workers and early childhood educators.
Boosting wages, cutting taxes for every taxpayer and creating more jobs are central parts of our efforts to help Australians with the cost of living.
The Government's previous recommendations that the real wages of low paid workers do not go backwards helped secure an increase of around $7500 each year in the National Minimum Wage.
The minimum wage has already increased by $143 a week since we came to office, and the median wage has increased by $206 per week since we came to office.
Now, we're recommending they should go further, providing an economically sustainable real wage increase to Australia's award workers.
An increase in minimum and award wages is consistent with inflation sustainably remaining within the RBA's target band, and will provide further relief to lower income workers who are still doing it tough.
This position is both economically responsible and fair. It will ensure low paid workers can get ahead as inflation moderates and real wages continue to grow across the economy.
Just this week, new ABS data showed that annual real wages have grown for a year and a half under the Albanese Government.
When we came to office, real wages were going backwards by 3.4 per cent and had fallen for five consecutive quarters.
This was part of Sussan Ley and the Liberals' plan to keep wages low, a 'deliberate design feature' of their economic policy.
Under Labor, inflation is down, unemployment is low, over 1.1 million jobs have been created, real wages and living standards are growing again, but the job is not done because people are still under pressure.
Labor is helping Australians earn more and keep more of what they earn with strong and sustainable wages growth and tax cuts for every Australian taxpayer.
