The Opposition says the minimum wage is too low, and has pledged measures to lift it.

Labor leader Bill Shorten says the current minimum wage of $18.93 per hour cannot support a family.

While he has not put a specific number on the proposed “living wage”, Mr Shorten said it would need to reflect the rising cost of living.

“This country can't just be a country where the top end do well and everyone else struggles” Mr Shorten said.

“This country works best when everyone gets a fair go.

“When it's not just the investment banker in the skyscraper getting the increase in profits, but it's the cleaner who cleans that office at night when no one sees them working on the low wage.”

The Opposition leader denied it was a form of “class warfare”.

The Fair Work Commission (FWC) currently sets the minimum wage by considering five objectives - the relative living standards of the low paid, the broader economic impact, business viability, cost of living and a fair go for young workers.

The commission says about 241,000 Australians are currently on the minimum wage, while another two million workers are covered by an award that is affected by the FWC decisions.

Minimum wages across all awards grew by 3.3 per cent and 3.5 per cent in the last two years respectively – higher than the inflation rate for both periods.

Labor says it wants to overhaul industrial relations laws too; legislating to stop labour hire companies allowing businesses to shirk their responsibilities over pay and other entitlements.

Australia's minimum wage is the world’s highest in terms of its purchasing power, according to a 2018 analysis by the World Economic Forum.