Newsflash: National minimum wage on the rise

minimum wage - purse with penny coinThe following National Minimum Wage (NMW) rates will come into effect on 1 October 2014:

  • adult rate: increase by 19p to £6.50 an hour;
  • 18-20 year olds: increase by 10p to £5.13 an hour;
  • 16-17 year olds: increase by 7p to £3.79 an hour; and
  • apprentice rate: increase by 5p to £2.73 an hour.

This is the first time in six years that the adult rate rise will be higher than inflation.