Britain Marks 20 Years of the National Minimum Wage

(Bloomberg) -- Go inside the global economy with Stephanie Flanders in her new podcast, Stephanomics. Sign up here.​​​​​​​

Millions of British workers celebrate the 20th anniversary of the minimum wage on Monday -- with another inflation-busting pay rise. The legal minimum rises by 4.3 percent for 21-24-years-olds and by 4.9 percent for those age 25 and over. The floor has lifted living standards for the lowest earners and there is no evidence it has led to job losses, according to the Resolution Foundation think tank.

©2019 Bloomberg L.P.