Government backs real wage increase to minimum wage

Australia’s minimum wage is back in focus, with the government signalling support for a real wage increase ahead of the Fair Work Commission’s June decision, as unions and business groups put forward competing claims. Independent economist Chris Richardson unpacks what a potential rise above inflation could mean for the economy. Meanwhile, the sharemarket dipped after a strong rally, with Darren Thompson from Equity Trustees breaking down the latest moves across sectors and what is driving investor sentiment.