The National Minimum Wage (NMW) has increased in the United Kingdom by 9.7%, supporting workers and improving their financial well-being.
The Low Pay Commission estimates that around 1.6 million workers were paid at or below the minimum wage in April 2022, around 5% of all UK workers, compared to 1.5 million jobs paid at or below the NMW in 2015, before the introduction of the National Living Wage
This increase is expected to benefit them and help them maintain a decent living standard.
The NMW is a statutory minimum wage that sets out the minimum amount employers must pay their workers per hours they have worked. It was first introduced in the UK in 1999, and since then, it has been reviewed and updated regularly to keep pace with the changing economic and social conditions. The NMW is an important tool to ensure that workers receive fair wages and that employers provide a minimum standard of pay.
The latest increase in the NMW is part of the UK government’s ongoing efforts to support low-paid workers and reduce income inequality. The new rates were applied from 1 April 2023, and vary depending on the worker’s age and whether they are an apprentice.