Industry urges wage increase

The Australian Retailers Association (ARA) has put forth a recommendation to increase the minimum wage by no more than 1.2% to the Fair Work Commission's (FWC) Annual Wage Review.

If approved the adjustment would see an increase of $7.90 per week bringing the national retail minimum wage to $664.80 per week.

ARA executive director Russell Zimmerman believes that the FWC commission should consider the recommendation as realistic and reasonable.

“Any changes to the minimum wage must consider weak economic trading conditions, current and imminent wage bill increases for industries undergoing structural adjustment and underemployment levels.

“We ask the FWC to consider high minimum wage increases over recent years as compensation that the economy, employment levels, and businesses can no longer afford.”

Zimmerman said the ARA has worked alongside the Australian Chamber of Commerce and Industry (ACCI) on the recommendation, bolstering a strong patnership.

“The ARA supports ACCI’s position in outlining the economic risks and the state of the national economy capacity to pay within the sector.

“The Australian economy is facing a difficult period of transition in the near term, and our proposed increase in the national minimum wage seeks to minimise employment losses in a weak labour market.”