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31st Oct 2023 19:11UK, Daily Monitor

  • The NLW looks set to rise by about 7% next April, while the Real Living Wage has just been increased by 10%.
  • Fewer people than last year, however, are paid the NLW, and supermarkets may shrink their premium to the NLW.
  • Now ample labour market slack will bear down on pay rises offered to the bulk of employees not on the NLW.

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Keywords for: 2 November 2023 UK Monitor

Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence