Anthony Albanese is throwing his weight behind a push to give 2.9 million workers an above-inflation pay boost. Labor will on Wednesday make a submission to the Fair Work Commission (FWC) for those on the minimum wage and some award wages.

This submission isn't a guarantee that it will happen, even if Labor wins the May 3 election. But Albanese believes the country's lowest-paid workers deserve a wage hike.

“This outcome is both fair and economically responsible,” the party will say in its submission.

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“Labor believes workers should get ahead with a real wage increase.

"Despite heightened global uncertainty and volatility, the Australian economy has turned a corner.

"Inflation is now less than one-third of its peak, unemployment remains low, there are over a million additional people employed than in May 2022, and interest rates have started to come down.

“Economic growth rebounded at the end of last year and the private sector is now a key contributor to growth.

"Importantly, real wages growth has now returned and is forecast to continue across 2024-25 and 2025-26."

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How much will workers be getting?

The submission doesn't indicate how much this wage boost could be, however, it does indicate that it should be above the forecasted inflation rate.

Inflation was baked in to be 2.5 per cent for this financial year and is set to jump to 3 per cent for the 2025-26 year, according to KPMG.

The current minimum wage is $24.10 per hour, or $915.90 per week.

If there was a 3 per cent increase in wages, that would give workers an extra $27 per week, while a 3.5 per cent jump would see an additional $32 per week in their pockets.

“Low-paid workers and their families are particularly affected by cost-of-living pressures because they typically have limited liquid asset buffers to draw on to cover rising costs and they are less able to deal with unexpected expenses,” Labor says in its submission.

“Award-reliant workers, many of whom are low paid, are more likely to be women, employed on a casual basis, working part-time hours and young.

Labor's proposal is a big step forward from its last three submissions, which asked that wages don't go backwards.