The economic and labour market crisis due to COVID-19 has hurt vulnerable groups, threatening to further increase inequality and push more people into poverty. The cost of living is at a 30 year high. Meanwhile, the built environment faces a growing skills shortage – employers need to invest in attracting and retaining future workers to meet the demands of today and into the future.
A wage based on the cost of living can play an important role in tackling these challenges. They can protect workers’ wages from spiralling down to unduly low levels, prevent even larger increases in poverty and inequality, and contribute to economic stability, helping to build back better.
If you are paying a wage based on the cost of living, can you be sure that the wage is finding its way to the individual workers? Recent cases of modern slavery found in the UK demonstrate that exploiters often control workers’ bank accounts, with the workers given very little, or none of the wages paid by the employers.
An Introduction to the Living Wage
An introduction to the living wage by Caroline Reilly from the Living Wage Foundation.
“4.8 million workers are paid less than a real Living Wage. That’s 17% of the UK workforce”Living Wage Foundation