Millions of Australian workers to get an above-inflation pay rise as minimum wage lifts by 3.5%
1. Australia raises minimum wage by 3.5% to combat low living standards. 2. Workers reliant on minimum wage have suffered real wage reductions since 2021. 3. The increase will affect approximately 3 million workers across various sectors. 4. Concerns remain about inflation and productivity affecting business costs. 5. Economists anticipate the RBA may continue interest rate cuts despite wage increases.