UK Minimum Wage Set for Significant Increase in 2024: Rise Outpaces Inflation
In a promising move that aims to bolster the financial well-being of workers across the United Kingdom, the government has announced a scheduled increase in the minimum wage for the forthcoming year. As of April 2024, the national living wage will see an impressive rise of 6.7%, elevating it to £11.95 per hour. This move is not only a response to the ongoing cost of living crisis but also serves to exceed inflation rates, which have been a pressing concern for many households.
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UK Minimum Wage Increase Sparks Drop in Low-Paid Jobs Ahead of Hike
In a notable development for the UK economy, recent findings reveal a significant decline in low-paid job vacancies just weeks before the anticipated minimum wage increase set to take effect in April 2024. This surge in wage legislation is casting a shadow over the employment landscape, prompting concerns about the impact on businesses and the job market overall.
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