Minimum wage increases has pushed up cost on employers 'by over £4,000’

Cost of hiring minimum wage worker to climb by £4,000

Cost of employing young people 'skyrockets' under Labour

Higher taxes and sharp increases in the minimum wage mean that taking on a worker aged 21 and over costs 20 per cent more. For 18-to-20 year-olds, the cost is up by 31 per cent.

Minimum wage increases has pushed up cost on employers 'by over £4,000’

Minimum wage increases brought forward by the Labour government have pushed up the annual cost of employing a single worker by over £4,000, new analysis has shown, adding to a mountain of cost pressures facing businesses.  Estimates by the Centre for Policy Studies, a free-market think tank, found that between 2024 and 2027 the annual [...]

Young Workers at Risk? UK Wage Hikes Put Hiring Under Pressure

Employing an 18 to 20-year-old is expected to cost businesses 31 per cent more between 2024 and 2027. The additional annual cost is estimated at £4,859, compared with £4,462 for workers aged 21 and above. The Low Pay Commission has recommended slower increases for younger workers amid concerns about youth employment. Hiring young workers in the UK is becoming more expensive for businesses, with the annual cost of employing an 18 to 20-year-old p…