National minimum wage rates for 2023 — hourly, weekly, fortnightly and annual.
Last verified: 21 May 2026| Period | Amount |
|---|---|
| Hourly | $23.23 |
| Weekly (38 hours) | $882.74 |
| Fortnightly | $1,765.48 |
| Annual (before tax) | $45,902.48 |
$21.38/hr
$23.23/hr
+$1.85/hr
+8.7%
| Year | Hourly | Weekly | Change |
|---|---|---|---|
| 2010 | $15.00 | $570.00 | — |
| 2011 | $15.51 | $589.38 | +$0.51 |
| 2012 | $15.96 | $606.48 | +$0.45 |
| 2013 | $16.37 | $622.06 | +$0.41 |
| 2014 | $16.87 | $641.06 | +$0.50 |
| 2015 | $17.29 | $657.02 | +$0.42 |
| 2016 | $17.70 | $672.60 | +$0.41 |
| 2017 | $18.29 | $695.02 | +$0.59 |
| 2018 | $18.93 | $719.34 | +$0.64 |
| 2019 | $19.49 | $740.62 | +$0.56 |
| 2020 | $19.84 | $753.92 | +$0.35 |
| 2021 | $20.33 | $772.54 | +$0.49 |
| 2022 | $21.38 | $812.44 | +$1.05 |
| 2023(this page) | $23.23 | $882.74 | +$1.85 |
In 2023, the minimum wage increased by 8.7% while CPI inflation was approximately 5.4%.
Wages outpaced inflation by 3.3 percentage points, meaning minimum wage workers gained real purchasing power.
The 2023 minimum wage of $23.23/hr would need to be $26.03/hr today to have the same purchasing power (adjusted for ~12% cumulative inflation).
The current rate is $24.10/hr — wages have increased 4% nominally since 2023. In real terms, minimum wage workers have lost some purchasing power.
The national minimum wage in 2023 was $23.23 per hour, or $882.74 per week for a 38-hour work week. This equates to $45,902.48 per year before tax.
The minimum wage has increased from $23.23/hr in 2023 to $24.10/hr in 2026 — an increase of $0.87/hr (4%). This reflects the cumulative effect of annual Fair Work Commission wage reviews.
The Fair Work Commission conducts an Annual Wage Review each year, with the new rate typically taking effect from 1 July. The review considers economic conditions, cost of living, and the needs of the low-paid. The decision is usually announced in June.
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General information and estimates only — not legal, financial or tax advice. Always check your specific award, agreement or contract, or a qualified professional, before you rely on the result.
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