Annually, the first week in November is Living Wage Week and as part of this week, the new living wage rates details are revealed. The Mayor of London announces the London rate for the Living Wage whereas the UK rate is announced countrywide at the same time.
The new London Living Wage, announced by the Mayor of London, Sadiq Khan, has increased by 3.7%, from £9.40 to £9.75 per hour. This helps reflect the higher cost of living facing families in the city. The UK Living Wage rate has increased by 20p from £8.25 to £8.45, an increase of 2.4%. The Government's current minimum wage for over 25s is £7.20, which is £1.25 less than this rate.
There are nearly 1000 London-based employers that have agreed to pay their staff the Living Wage hourly rate, this is an increase of 300 employers. In total nearly 1,000 employers have signed up since Living Wage Week last year bringing the total number of accredited Living Wage organisations to nearly 3000. New companies that have signed up are RSA Insurance Group, Curzon Cinemas, the British Library.
For information about the Living Wage Foundation and Living Wage week visit the Living Wage Foundation website