The National Minimum Wage rate for adult workers has today (Thursday) increased by 20p from £6.50 to £6.70 per hour.
The apprentice rate of the NMW has gone up by 57p to £3.30, which is the largest ever rise, while the 3% increase in the adult rate is the biggest real increase since 2006 and moves the NMW closer to the average wage than ever before. The new rate means that a full time employee, working 40 hours, will see the largest cash increase in their annual pay packets since 2008.
Business secretary Sajid Javid said: “As a one-nation government we are making sure that every part of Britain benefits from our growing economy and today more than 1.4 million of Britain’s lowest-paid workers will be getting a well-deserved pay rise.
“The increase for apprentices is the largest in history making sure that apprenticeships remain an attractive option for young people. While the National Minimum Wage will see the largest real-terms increase since 2007.”
In April 2016 the new National Living Wage will be introduced, starting at £7.20 an hour.