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Low pay figures sound warning over loan charges

Women and part-time workers could be the most likely to be hit with sky-high loan charges as they try to make ends meet.

Low pay estimates for April 2012 show that there were 287,000 jobs paid below the national minimum wage held by people aged 16 and over.

This constitutes 1.1 per cent of all employee jobs in the UK labour market.

People in part-time work were nearly twice as likely as people in full-time work to be paid less than the minimum wage, with 1.7 per cent of part-time jobs and 0.9 per cent of full-time jobs below the minimum wage.

Jobs held by women were more likely to be paid less than the minimum wage than jobs held by men - 1.3 per cent compared with 0.9 per cent.

People on low pay are more likely to take out loans to cover day-to-day costs, adding further to their financial problems.

Amir Hussain

Amir specialises in personal loans, consumer debt and debt management.ADNFCR-2776-ID-801494162-ADNFCR

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