Fair Work Australia: Minimum Wage To Be A$569.90/Week, A$15/Hour From July 1

CANBERRA -(Dow Jones)- Australia's new independent workplace relations tribunal Fair Work Australia said Thursday it will raise the country's minimum wage A$26 to A$569.90 a week from July 1.

The decision, which raises the wage rate paid to the country's lowest paid workers to A$15 an hour, is a victory for labor unions, falling just short of its call for a pay rise of A$27 a week.

But it angered business groups calling for a more measured rise. It will also likely alert the Reserve Bank of Australia to potential wage pressures.

-By Rachel Pannett, Dow Jones Newswires