The Mayor encourages London employers to pay staff at least the London Living Wage. Londoners face far higher living costs than people living in other regions, especially for housing and childcare. The London Living Wage goes some way to reflecting this.
The London Living Wage is an hourly rate of pay, calculated according to a combination of the costs of living in London and 60% of the median wage. This gives the wage rate needed to give a worker in London enough to provide their family with the essentials of life, including a cushion against unforeseen events. Unlike the compulsory national minimum wage, the London Living Wage is a voluntary commitment made by employers, who can become accredited with the Living Wage Foundation.
In November 2014, the London Living Wage was set at £9.15 for the coming year. Over 400 London employers across all sectors are now paying the London Living Wage, a figure that has doubled since November 2013.
The Mayor wants the London Living Wage to become the norm for employers in the city by 2020, to help hard working Londoners trying to make ends meet in an expensive city.
For more detail on how the London Living Wage is calculated and information on accredited employers, please read the 2014 Living Report.
Find out more on the Living Wage Foundation website.