Economics class: Low-paid workers to bear the brunt of coming rise in UK labour costs
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Labour markets
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Low-paid workers to bear the brunt of coming rise in UK labour costs
Explain John Maynard Keynes’ sticky wage theory
State the UK national minimum wage (NMW) from 1 April 2025 for individuals aged 21 and over
Using a minimum wage diagram, analyse the potential effects of an increase in the NMW
Explain why the upcoming changes to the NMW and national insurance contributions (NICs) will be felt particularly by firms employing adult employees on a part-time basis
With reference to chart 1, compare the wage elasticity of demand for the bottom 40 per cent of earners
Gavin Clarke, Emmanuel College
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