Isle of Man Minimum Wage – Adult hourly rate to increase to £6Monday, June 16th, 2008
The Department of Trade & Industry Minister, David Cretney, will be asking Tynwald to support an increase in the rate of the minimum wage on the Isle of Man at the sitting of the Court on17 June 2008. The proposed increase, from £5.60 to £6 per hour, is a 7.1% increase, and, if approved, will come into effect on 1 October 2008.
The increase proposed by the Minimum Wage Committee was to £5.85, a 4.1% increase. However, the rate of inflation had risen to 4.9% by April 2008 and the higher rate has been agreed by Treasury and Council of Ministers.
The rate for 16 years olds remains at £4.67 per hour and £5.24 per hour for 17 year olds and certain trainees.
The June 2007 earnings data analysed by Treasury shows that roughly 4.8% of the Isle of Man workforce earned below £6 per hour. About 1,700 workers of the Island’s employed workforce of approximately 35,000 stand to benefit from the proposals.
Increase in Minimum Wage
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