The Minimum Wage Panel of the Fair Work Commission has handed down its decision on award and minimum wage rates from 1 July 2013. 

Modern award minimum wages have been increased by 2.6%.  Weekly wages will be rounded to the nearest 10 cents. 

The national minimum wage will increase to $622.20 per week or $16.37 per hour.  The hourly rate is calculated on the basis of a 38 hour week for a full time employee.  This constitutes an increase of $15.80 per week or 41 cents per hour. 

Reference:  Annual Wage Review 2012-2013 [2013] FWCFB 4000 (3 June 2013).