The share of UK jobs paying below the voluntary living wage rose at a record pace in 2024, with 15.7% of workers earning less than the minimum needed for acceptable living standards. Hiring has slowed, and businesses face cost pressures, worsened by tax increases and minimum wage hikes set for April. Low-wage sectors like hospitality and retail have been hit hardest, with employers struggling to maintain competitive pay. While minimum wage hikes benefit the lowest earners, pay growth isn’t trickling up to more experienced workers, widening income disparities.