News & Insights: Pay increases
National Minimum Wage in 2023The national minimum wage and living wage is going up in April 2023. Here is all the information you need to stay up to date with the National Minimum Wage changes coming this April.
What is National Minimum Wage and Living Wage?
In the UK we use the National Minimum Wage and National Living Wage system to pay people, some factors like age and type of employment affect this total too. The government provides guidance on what these rates are and where they apply. To best understand National Minimum Wage you can check the governments website for the current National Minimum Wage and Living Wage rates for all age brackets.
What are the new rates?
Aged 23 or over £10.42 (40hrs is £21674 a year, 45hrs is £24383 and 48 hrs is £26008)
21-22 year old is £10.18 (40hrs is £21175 a year, 45hrs is £23821 and 48 hrs is £25409)
18-20 year old is £7.49 (40hrs is £15579 a year, 45hrs is £16178 and 48 hrs is £18695)
These new pay rates will start from April 2023 and was announced on November 17th 2022 by the Government.
HtE Recruitment News & Insights
This news and insights page has been written by Rick based on information on the government website and the autumn statement. Rates of pay quoted is correct on 17/11/22 and the rates do change each year. HtE Recruitment take no responsibility for this post.
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