This website uses cookies primarily for visitor analytics. Certain pages will ask you to fill in contact details to receive additional information. On these pages you have the option of having the site log your details for future visits. Indicating you want the site to remember your details will place a cookie on your device. To view our full cookie policy, please click here. You can also view it at any time by going to our Contact Us page.

https://www.rwmexhibition.com/welcome/about-us

Caution advised over National Living Wage roll out

28 November 2016

Advice on implementation of the National Living Wage has been given to the UK by the Organisation for Economic Co-operation and Development (OECD).

It said that this should be handled cautiously due to the possible impact it could have on employment levels.

Currently set at £7.20 an hour, this will rise to £7.50 an hour next April, following Chancellor Philip Hammond's Autumn Statement announcement last week.

However, the OECD described the UK labour market as "resilient", although the rate of creation of new jobs had decreased in recent months.

Although wage increases had combined with low inflation to positive effect, the OECD said the reduction in the pound's exchange rate is increasing price pressure.

Therefore, it advised that caution is required to raise National Living Wage levels to 60% of median hourly earnings by 2020.

This should involve careful assessment of the effects on employment numbers before further increases are implemented, particularly in the event of slow growth and weakening labour markets.

The OECD further stated that low global economic growth over the last five years could be improved by effective government spending and tax policies.


Print this page | E-mail this page

MOST VIEWED...


Article image Issues of back flushing PIC valves explained

The popularity of Pressure Independent Control (PIC) valves over the last few years has significantly increased and now are the popular choice of many system designers.Full Story...

Article image Join PFM in an exclusive visit to the RWM exhibition in September

Facilities managers and service providers are invited to join PFM magazine in an enhanced visitor experience at the RWM exhibition at the NEC in September.Full Story...

PFM Awards 2017 finalists announced

PFM Awards 2017 categories announced

Total Solutions at the Facilities Show 2017

http://www.fsi.co.ukhttps://www.emergencyuk.com/pfm2http://www.pfmonthenet.net/jobs.aspx