National Living Wage Increases From £8.91 to £9.50 an Hour on April 1st 2022

National Living Wage Increases From £8.91 to £9.50 an Hour on April 1st 2022

National Living Wage Increases From £8.91 to £9.50 an Hour on April 1st 2022

National Living Wage is set to increase from £8.91 per hour to £9.50. 

Approximately 2 million workers are paid at this level in the retail, hospitality, cleaning and maintenance sectors.

The 6.6% increase in the minimum wage is a welcome boost for all those aged 23 and over - more than twice the current 3.1% rise in the cost of living.

Minimum pay rates for younger workers are also set to go up.

The National Minimum Wage for people aged 21-22 will rise from £8.36 to £9.18 an hour and the Apprentice Rate increases from £4.30 to £4.81 an hour.

Minimum wage increase will take effect on April 1st 2022.

Here is how the minimum wage will increase next year:

  • National Living Wage for over-23s: From £8.91 to £9.50 an hour
  • National Minimum Wage for those aged 21-22: From £8.36 to £9.18
  • National Minimum Wage for 18 to 20-year-olds: From £6.56 to £6.83
  • National Minimum Wage for under-18s: From £4.62 to £4.81
  • The Apprentice Rate: From £4.30 to £4.81

The U.K. government has come under increasing pressure to help low-paid employees and younger workers, who are among the worst hit by the Covid pandemic, and mostly swallowed up by tax rises, universal credit cuts and higher energy bills.

The increases to the wage rates follow recommendations made by the Low Pay Commission, an independent advisory board.

Giving millions of workers a 6.6% pay rise sounds generous and will be a welcome boost during the Covid-19 pandemic

UK inflation is likely to surpass 5% by early 2022, leading economists to predict that interest rates could go up as early as next month.

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Anas Bouargane

Business Expert

Anas is the founder of CEF Académie, a platform that provides guidance and support for those willing to study in France. He previously interned at Unissey. Anas holds a bachelor degree in applied economics from the University of Toulon.

   

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