High Wage Increase no Good for Australian Youth, ACCI Warns

min wageThe Australian Chamber of Commerce and Industry (ACCI) has urged the Fair Work Commission to increase the minimum wage by no more than 1.2 per cent or $7.90 per week which would make the minimum weekly wage $664.80.

Thousands of unemployed Australians, most of them young people will be disadvantaged if the minimum wage is raised too high, the ACCI explained.

The peak body has called for a more “job-friendly” approach to the minimum wage to avoid impeding access to jobs or training opportunities.

Youth unemployment is at 12.2 per cent, which is twice the national unemployment rate of 5.8 per cent.

The Fair Work Commission’s decision on the new minimum wage will¬†come into¬†effect from July 1.

Find out more at https://au.finance.yahoo.com/news/wage-increase-no-good-youth-011951097.html