The Fair Work Commission has handed down its National Minimum Wage decision, which will see a 2.6 per cent increase to the nation’s minimum wage.

The decision will see the minimum wage increase by $15.80 to $622.20 per week from the beginning of July. The hourly rate will increase by 41 cents from $15.96 to $16.47.

Treasurer Wayne Swan welcomed the increase, saying that that the Commission had responded appropriately to the Government’s request to increase the minimum wage to better reflect living costs.

"Today’s decision is well balanced and moderate, and highlights the underlying resilience of the Australian economy,” Mr Swan said.

Minister for Workplace Relations, Bill Shorten, also welcomed the announcement, saying that the increase better reflects the cost of living and the increase to the Superannuation Guarantee.

"The Government’s Fair Work system has delivered a modest increase to the National Minimum Wage which will help our lowest paid make ends meet,” Mr Shorten said.

"It is pleasing that the Commission has taken into account the Government’s increase to the Super Guarantee in its determination.”