Global Minimum Wage Hikes Announced

Rachel Reeves, the UK's Chancellor, announced a significant increase in the National Living Wage to £12.21 per hour starting April 2025, benefiting over three million workers with a £1,400 annual boost. The National Minimum Wage for 18-20-year-olds will rise to £10 per hour, marking the largest increase on record, aligning with Labour's pledge to unify wage rates across age groups. Meanwhile, Guam lawmakers proposed tying minimum wage adjustments to the consumer price index to maintain purchasing power amidst rising living costs. In Malaysia, Prime Minister Anwar Ibrahim announced a hike in the minimum wage to RM1,700 per month effective February 2025, emphasizing the government's role in improving workers' livelihoods despite the absence of union support. Economists warn that without accompanying measures such as union empowerment or skill development, the positive impact of wage increases might be limited.