Overview

• Minimum wage hikes have significantly reduced the pay gap between low and middle earners, reaching the lowest level since the 1970s.
• Real wage growth for UK workers has increased by just £16 a week since 2010, despite recent improvements.
• Low-paid occupations, such as bar staff and cleaners, have seen substantial wage increases, outpacing inflation.
• The UK's employment rate has not returned to pre-pandemic levels, unlike most other OECD countries.
• Experts warn that further minimum wage increases could risk higher unemployment among younger workers.