The London Living Wage is to increase by 25p an hour to £9.40, Mayor Boris Johnson has announced.Read the full story ›
The voluntary Living Wage will increase by 40p to £8.25 from today.Read the full story ›
Study shows a 'worrying trend' of part-time, female and young workers earning below the figure.Read the full story ›
People under the age of 34 have the worst economic prospects for several generations, a new report has claimed - hit by falls in income and employment, less access to good housing and jobs and deepening poverty.
Research by the Equality and Human Rights Commission found that young people faced the biggest drop across the board, and now face bigger barriers to achieving economic success than they did five years ago.
The negative impact of being poor was much greater for white people than ethnic groups, the report added, with white boys from poor families suffering a combination of disadvantages.
TUC union general secretary Frances O'Grady urged the government to take action.
This report should be wake-up call to ministers. Hiking up university and college fees and excluding young people from the new higher minimum wage rate is not the way to build a fair and prosperous Britain. It is the blueprint for a lost generation.
Without better employment and training opportunities many young people will continue to be shut out of the recovery.
Taxes on car and vehicle insurance will shoot up on Sunday - hitting young drivers the hardest, the RAC has warned.Read the full story ›
The Money Shop's parent firm is repay more than £15.4 million to customers after the financial watchdog highlighted a string of failures.Read the full story ›
Positive reports on the UK's growing economy mask a large and growing inequality in income - with stark warnings of more and more low-paid jobs leading to a "race to the bottom", according to a new report.
A study by the New Economics Foundation found that while employment rates were on the rise, more people were stuck in insecure and poorly-paid positions.
The thinktank has now called on the government to measure the economy in terms beyond just Gross Domestic Product (GDP).
It is a very mixed picture, and very different from the headline messages we hear from the Chancellor that the sun is shining on Britain when you just look at the growth rate pointing upwards.
Why do we want economic growth? It's to make sure we can have things like a good job - that is something we almost all aspire to if not for ourselves then for our children.
We don't just want an economy that just produces the lowest quality, race to the bottom job - that any job will do however insecure or poorly paid.
We should have an economy that aims to produce good work for people. We suggest we need to look at the quality of our growth.
If we are just growing for growth's sake but not producing good jobs then our economy is not doing as well as it could be.
Budget supermarket Aldi will increase staff wages to above the National Living Wage from next February, bosses have announced.
From then, workers will be paid a minimum of £8.40, and those in London will get £9.45 an hour.
Employees in the Republic of Ireland will also get a raise, up to €11.50.
Aldi said it would not need to raise prices to pay for the move, as it already pays all store assistants at least £8.15 an hour and a country-wide average of more than £9.
The success of Aldi in the UK and Ireland has been driven by the commitment, hard work and ambition of our employees and we will continue to maintain our leading position on pay.
It is the latest in a string of pay rises for supermarket staff across the country.
Morrisons recently said it would increase wages from £6.83 an hour to £8.20, while Lidl announced similar changes.
It puts the supermarket salaries above the National Living Wage announced by Chancellor George Osborne in his summer budget, which will see all workers aged 25 and up paid at least £7.20 from next April, rising to £9 in 2020.
Figures show average house prices over £1m in some areas outside of London, but an overall drop in seven-figure property sales overall.Read the full story ›
The British Bankers' Association has welcomed the competition watchdog's proposals to make it easier for consumers to switch bank accounts.
Speaking to ITV News after the Competition and Marketing Authority published its preliminary recommendations into how to make the sector more competitive, Anthony Browne, chief executive of the BBA, said it was good the recommendations were "customer focused."