Since 2011, the Living Wage Foundation sets an annual living wage rate that thousands of employers apply on a voluntary basis for their employees ages 18 and over. This time the foundation has increased the rate by 3.6% to £8.75 (€9.89) per hour that applies to the UK with the London area receiving a 4.6% rise that takes capital’s hourly pay above the symoblic £10 for the first time. Seen as the wage level that provides a decent standard of living, this rate is significantly higher than the legal minimum rate of £7.50 (€8.48).
Some 3,600 companies have voluntarily signed up to the living wage, including Google, IKEA, beverage giant Diageo, and Nestlé (c.f. article No. 8489) and with this new rate they will be raising the paypackets of some 150,000 employees by March 2018. On 06 November, the engine behind the voluntary pay rate, the Living Wage Foundation decided that given 3% inflation and a general rise in the cost of living that the living wage level should be raised. In 2016 it was set at £8.45 (€9.56) and will r
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