The national living wage has caused the biggest fall in low pay in 40 years – but how is this improving people’s living standards?

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Jobs, Skills and Pay

Employment is at a 40-year high, while pay is stagnating. That, in brief, sums up the last few years of changes in Britain’s labour market. As Figure 1 shows, politicians rightly highlight that employment and unemployment are undeniably trending in the right direction. But the good news on employment has failed drastically to translate into … Continued