Friday, October 20, 2017

Hundreds of thousands to receive pay rise as National Minimum Wage hits record high

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As of today low paid workers will receive a boost in their wages as a new National Minimum Wage rise comes into effect.

Almost 270,000 low paid workers will reap the benefits of the National Minimum Wage, seeing those who work over 35 hours a week earn £450 more every year.

The rate is now the highest the wage has ever been in real terms, surpassing the pre-recession peak outstripping average wage growth and inflation.  

Workers aged 18 to 20, and 21 to 24 will all see an increase of 25p, raising their wages to £5.55 and £6.95 respectively.

RELATED: Retailers divided on National Living Wage

Apprentices under 21, estimated to number around 210,000 nationwide will see their wages rise by 10p to £3.40 an hour. 

Young workers aged 16 to 17 will see their wags increase to £4 an hour.

This follows a promising employment rate of nearly 75 per cent, and unemployment hit a 10-year low.

In April the minimum wage for over 25s was raised to £7.20

Employers must now pay those entitled to minimum wage the new rates or face punishment and also being named and shamed on a public register, with the HRMC enforcement budget gaining an extra £7 million.

Business Secretary Greg Clark said: “This will make a real difference to hard-working people up and down the country and means for the vast majority of workers, the National Minimum Wage is at its highest level in real terms.”

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