FOREX TradingCharts.com

Financial News: UK Low Paid Workers Lowest Since 1980

UK Low Paid Workers Lowest Since 1980

05/30/2019 - 07:39:00 (RTTNews)

(RTTNews) - UK's proportion of low-paid workers declined to its lowest level since 1980, the latest annual report from the Resolution Foundation revealed Thursday.

According to the annual Low Pay Britain report, low pay could be eliminated altogether by the middle of the 2020s.

The number of low-paid workers across Britain fell by around 200,000 last year with the biggest declines seen in administrative and support services, and retail.

The think tank said the introduction of the National Living Wage, or NLW, in April 2016 helped to reduce low pay, to 17.1 percent of the workforce last year from 20.7 percent in 2015.

The NLW also raised the number of workers earning the legal minimum wages to a record 2 million without causing any significant negative impacts on jobs.

Also, there was no evidence that recent decreases in average hours worked by low earners were being driven by increases to the NLW.

The report suggested that the five-year ratcheting up of the NLW is due to finish next April, and that further big rises are in store after 2020.

"It's great that both main parties want to go even further on raising the minimum wage and eliminate low pay altogether. But such an ambitious move would transform the labour market, and must therefore be approached boldly but cautiously," Nye Cominetti, economic analyst at the Resolution Foundation, said.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2019 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Russia Slashes Key Interest Rate, Signals More Easing (50 min(s), 38 sec(s) ago)
(RTTNews) - Russia's central bank cut the key interest rate for the first time in over a year ...Full Story»

U.S. Business Inventories Climb In Line With Estimates In April (51 min(s), 38 sec(s) ago)
(RTTNews) - After reporting virtually no change in U.S. business inventories in the previous month ...Full Story»

U.S. Consumer Sentiment Deteriorates Amid Concerns About Higher Tariffs (44 min(s), 38 sec(s) ago)
(RTTNews) - Consumer sentiment in the U.S. has deteriorated in the month of June, according to a r ...Full Story»

U.S. Industrial Production Rises More Than Expected In May (29 min(s), 38 sec(s) ago)
(RTTNews) - Reflecting a substantial rebound in utilities output, the Federal Reserve released a r ...Full Story»

U.S. Retail Sales Rise 0.5% In May, April Data Revised Significantly Higher (47 min(s), 38 sec(s) ago)
(RTTNews) - A report released by the Commerce Department on Friday showed U.S. retail sales rose b ...Full Story»

U.S. Retail Sales Climb 0.5% In May (10 min(s), 38 sec(s) ago)
(RTTNews) - A report released by the Commerce Department on Friday showed U.S. retail sales rose b ...Full Story»

China Industrial Production Growth Weakens (36 min(s), 38 sec(s) ago)
(RTTNews) - China's industrial output grew at a weaker pace in May as higher tariffs imposed b ...Full Story»

Italy's Inflation At 13-Month Low (11 min(s), 38 sec(s) ago)
(RTTNews) - Italy's consumer price inflation slowed more than initially estimated to a 13-mont ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. Business Inventories Climb In Line With Estimates In April

06/14/2019 - 10:19 AM (RTTNews)
(RTTNews) - After reporting virtually no change in U.S. business inventories in the previous month ...Full Story>>

Russia Slashes Key Interest Rate, Signals More Easing

06/14/2019 - 10:18 AM (RTTNews)
(RTTNews) - Russia's central bank cut the key interest rate for the first time in over a year ...Full Story>>

U.S. Consumer Sentiment Deteriorates Amid Concerns About Higher Tariffs

06/14/2019 - 10:12 AM (RTTNews)
(RTTNews) - Consumer sentiment in the U.S. has deteriorated in the month of June, according to a r ...Full Story>>

U.S. Industrial Production Rises More Than Expected In May

06/14/2019 - 09:57 AM (RTTNews)
(RTTNews) - Reflecting a substantial rebound in utilities output, the Federal Reserve released a r ...Full Story>>

U.S. Retail Sales Rise 0.5% In May, April Data Revised Significantly Higher

06/14/2019 - 09:15 AM (RTTNews)
(RTTNews) - A report released by the Commerce Department on Friday showed U.S. retail sales rose b ...Full Story>>
Copyright © 2019. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.