What is the ‘living wage’?

According to a survey by PwC and WageIndicator, 24% of employers now pay a living wage, that is, a wage that is enough to provide a decent standard of living for both a worker and their family. An additional 54% are expected to do so within the next five years.

The concept of a living wage originated in 1907 Australia, gaining momentum after both World Wars through the International Labour Organization.

While national living wage laws exist (e.g., UK), many countries rely on minimum wages that often fall short, especially for excluded workers (farm/domestic).

There are clear benefits to paying a living wage, even for businesses. Consumers are increasingly seeking out ethical brands and will switch to competitors if a company falls short.

Paying a living wage benefits not only employees but also businesses through increased consumer loyalty, worker productivity, and economic growth.