Australia Raises Minimum Wage Rate by 4.75%, Citing Uncertainty

Australia’s industrial relations umpire raised national minimum wage rates by 4.75%, just shy of the Reserve Bank’s inflation forecast, citing uncertainty over the economy’s trajectory.

The new minimum rate will be A$1,004.90 ($719.90) a week — or A$26.44 an hour — from July 1, Fair Work Commission President Justice Adam Hatcher said in Tuesday’s decision.

The RBA forecasts that the headline rate of inflation for the year to June 2026 will be 4.8%, and that it would take a wage rate increase of more than 5% to now close the real wage gap, he said.

“We have concluded, regrettably, ...