The Fair Work Commission's decision today to increase the modern award wage rate by 4.75% from 1 July 2026, still won't pay the rent.
Since Labor came into power, real wages have decreased by 1%, and remain at the same real value as they were 15 years ago. Meanwhile, the RBA forecasts the rate of inflation for the year to June 2026 will reach 4.8%.
The Greens say this decision will further erode real wages for some of our lowest paid workers, leaving working Australians behind while billionaires increase in number and wealth.
As stated by Greens spokesperson for finance, employment and workplace relations Senator Barbara Pocock:
"The Fair Work Commission's decision today amounts to a real wage cut for millions of Australians. Even with this 4.75% increase in the minimum wage, low-paid workers still face an uphill battle as wages have failed to keep up with inflation.
"With inflation expected to rise to 4.8%, the Fair Work Commission has decided to erode the wages of some of the lowest paid workers.
"Under Labor, we're seeing interest rates rise, real wages fall and a tax system that hits workers harder than billionaires.
"Nearly 3 million low-paid workers in Australia are playing catch up, facing rising grocery prices in a cost of living crisis, and rents increasing at well above inflation.
"Since Labor came into power, real wages have decreased by 1% while rents have increased by more than 22%. How on earth can renters keep a roof over their head?
"When national rents have risen 2.5 times faster than wages over the past five years, working households fall further behind through no fault of their own.
"Working Australians have had enough. They're fed up with seeing the big banks and the billionaires profit from an out of control housing crisis, while wages aren't keeping up and workers are going backwards."
