Overview

• Labor has submitted a request to the Fair Work Commission for an 'economically sustainable real wage increase' for low-paid workers, without specifying a target figure.
• The proposed wage increase could benefit approximately three million Australians, including workers in retail, childcare, and cleaning sectors.
• The Reserve Bank of Australia has kept interest rates steady at 4.1%, with inflation at 2.4%, creating a favorable environment for wage increases.
• The Coalition has criticized Labor's economic management but supports wage increases in principle, while focusing its campaign on private-sector investment and productivity growth.
• Wage policy has become a central issue in the lead-up to the May 3 federal election, with both major parties presenting contrasting economic visions.