Australia leads the world
Numerous media outlets reported that Unions have requested a $50-a-week increase to the minimum wage. This is apparently need-driven, to compensate for the increase in the cost of living. We could understand if this yardstick was applied to social benefits, but all the people ACTU is fighting for are actually employed. Just for the record: Australia’s minimum wage is the highest in the world already (over $13 per hour). Germany and the UK hover around $10. Japan, US, and Canada sit in the $6-$8 range. Interestingly, all these countries have GDP per capita higher than Australia. A coincidence?