Living Wage Week 2018: Increases by 3.4%
Effective immediately, the London Living Wage shall be increased to £10.55 per hour, which is a 3.4% rise, as part of ‘Living Wage Week 2018’ from 5th November 2018
In addition, those outside of London shall incur a 2.9% increase in their Living Wage, in which is supported by the ‘Living Wage Foundation’.
The Living Wage Foundation is an initiative to support those who cannot rely solely upon the government minimum wage standard. By supplying a ‘living wage’ in addition, this is set to increase the numbers of employees within the U.K.
Recent reports show that by employers paying the real Living Wage, low-paid workers are most likely to benefit, as they receive over £200 million extra in combination, as demonstrated in the previous year.
Each individual Living Wage rate is based upon a what a person requires in order to live comfortably either within London or outside of London – hence why the increase percentages are different, with London being slightly more based upon the ‘London Life’ being more expensive.
The motive for the Living Wage follows from the UK’s Chancellor recently announcing that the National Living Wage will be increased in April 2019 to £8.21 per hour, in which shall only apply to those employees over the age of 25 years old.
Employers can learn more about how to become a ‘Living Wage Employer’ by clicking here.
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