Is the National Minimum Wage been any good for us in the last 10 years it has rained supreme. It was estimated to have benefited over 2 million people at the time of it's introduction. In 1999 trade unionists where pushing to have the minimum wage raised to at least £5 per hour. It started out at £3 per hour for anyone under 22 years old and £3.60p per hour for any one over the age of 22 years old.
Has the wage raised enough?
To put the pay in an annual perspective, an adult over the age of 22 working at the minimum wage for 7.5 hours a day, 5 days a week, will make £942.50/month and £11,310/year Gross Income. After PAYE Tax this becomes £810.63/month or £9,727.55/year (2009/2010)
This means that according to government stats, if you are working for the national minimum wage your are working your self into poverty.
I would value any comments.
One This Day - National Minimum Wage.
Sunday, April 4, 2010
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