This week is living wage week, created by the Living Wage Foundation. The Living Wage Foundation publish what they believe employees need to earn to cover the costs of living not just what is needed day to day.
Living wage has been announced as £9.00 for those outside of London and £10.55 per hour for those within London. This will see an increase of 2.8% to wages for those who are paid the real living wage.
Currently over 4700 employers in the UK are accredited as living wage employers which includes around 1500 in London. The Living Wage Foundation uses a public consultation method called the minimum income standard to determine what the living wage should be, this factors in elements such as; transport costs, technology costs, rental costs, household goods costs & services.
Let’s see how this compares to the current national minimum wage set by the UK Government:[table “3” not found /]