SYDNEY (MarketWatch) -- Australia's workplace relations tribunal Friday ruled the country's lowest-paid workers should receive a 2.9% weekly wage increase, in a decision that could fuel industry concerns about rising costs.

In its ruling the Fair Work Australia body decided on a minimum wage of 15.96 Australian dollars (US$15.50) per hour or A$606.40 per week. This constitutes an increase of A$17.10 per week or 45 Australian cents per hour.