Proceedings of the 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022)

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The Impact of the National Minimum Wage on Employment: A Case Study of the UK

Authors
Jiahui Wang1, *
1The University of Leeds, Leeds, United Kingdom
*Corresponding author. Email: jiahuiwangboston@gmail.com
Corresponding Author
Jiahui Wang
Available Online 27 December 2022.
DOI
10.2991/978-94-6463-098-5_21How to use a DOI?
Keywords
Minimum Wage; Employment; Time Series Data; Regression; Young Workers
Abstract

The government uses the minimum wage system as a policy tool to intervene artificially in the labour market, thereby guaranteeing that low-wage workers in the sub-labour market receive a salary that meets a minimum standard of living. The community has widely discussed the impact of the minimum wage system on employment. However, there is currently no consensus in the academic community on the impact of a minimum wage system on employment. The UK government introduced the National Minimum Wage (NMW) by legislation in 1994. It increased the actual and relative salaries of the low pay workers during the past decades. Using time-series data from Labour Force Surveys of the United Kingdom from 2012 to 2021, this paper examines the impact of this system on employment using time-series analysis with the employment of young workers aged 16-17, who are most vulnerable to the minimum wage system. The empirical findings show that the minimum wage has no significant effect on 16-17-year-old adolescent workers.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
27 December 2022
ISBN
78-94-6463-098-5
ISSN
2352-5428
DOI
10.2991/978-94-6463-098-5_21How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Jiahui Wang
PY  - 2022
DA  - 2022/12/27
TI  - The Impact of the National Minimum Wage on Employment: A Case Study of the UK
BT  - Proceedings of the 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022)
PB  - Atlantis Press
SP  - 172
EP  - 180
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-098-5_21
DO  - 10.2991/978-94-6463-098-5_21
ID  - Wang2022
ER  -