Increase to the minimum wage - Money - News - Moneyfacts

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Increase to the minimum wage

Increase to the minimum wage

Category: Money

Updated: 01/10/2012
First Published: 01/10/2012

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

The minimum wage paid to workers aged 21 and over has risen by 11p, from £6.08 to £6.19, but remains lower than the typical increase in earnings and the rate of inflation.

The minimum hourly rate for apprentices has also risen by 5p to £2.65.

Workers aged between 18 and 20 will continue to be paid £4.98 an hour, whilst younger employees aged between 16 and 17 will still receive an hourly rate of £3.68.

Despite the rise, the Trade Union Congress (TUC) has argued that the cost of living far outweighs that of the average salary in the UK .

"While we are pleased that government has rejected the siren calls of some employers to freeze the minimum wage for adult workers and apprentices, these increases are still far below inflation and will leave the lowest paid facing a real terms cut," said the TUC.

"These new rates are a particular blow to younger people who will face the biggest hit on their living standards."

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