Wage bills
Each April, when minimum wage rates rise, employers consider how to respond. Should they take a hit to their bottom line? Try to find savings or efficiencies? Or pass the cost on to their customers, by raising their prices? In …
Giulia Giupponi, Bocconi University Sam Ray-Chaudhuri, Institute for Fiscal Studies Xiaowei Xu, Institute for Fiscal Studies February 16, 2024 The introduction of the National Living Wage (NLW) in April 2016 marked the start of a series of increases in the …
A wide range of evidence suggests that the National Minimum Wage (NMW) has succeeded in raising pay for the lowest-paid workers significantly without damaging employment or the economy. However, the benefits of the NMW have been more muted for workers …