Global Wage Growth Slumps to 1.8% in 2017, Lowest in a Decade: ILO
Reuters
Real journalism holds power accountable
Since 2015, The Wire has done just that.
But we can continue only with your support.
Geneva: Global wage grew by 1.8% in 2017, down from 2.4% in 2016 and the slowest rate since the global financial crisis in 2008, the International Labour Organization said in its two-yearly Global Wage Report on Monday.
"What is now widely recognised is that slow wage growth has become an obstacle to achieving sustainable economic growth," ILO director-general Guy Ryder wrote in the report.
In the past 20 years, average real wages have almost tripled in emerging and developing G20 countries, but they have risen by only 9% in advanced G20 countries, the ILO said.
The Wire is now on WhatsApp. Follow our channel for sharp analysis and opinions on the latest developments.