National Living Wage Has Hit UK Salaries, Jobs Site Says
3rd May 2016
Markets work, even when you don’t want them to.
The national living wage is having an unexpected effect on monthly salaries, according to a jobs website.
CV-Library says the average monthly UK salary has gone down since the introduction of the national living wage on April 1.
Crowdsourced data on the site shows that the average UK salary decreased 3.4 per cent to £32,899 in April compared to £34,055 in March. The retail sector has been hit hardest, with an 8.9 per cent drop in salary month-on-month, pushing the average salary in retail down to £28,762.
Britain does this stupid stuff so that we don’t have to. (I wish….)