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ILO report highlights slowest global wage growth in a decade during 2017


Devdiscourse News Desk
Updated: 26-11-2018 18:25 IST
ILO report highlights slowest global wage growth in a decade during 2017

Global wage grew by 1.8 per cent in 2017, down from 2.4 per cent 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 recognized 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 per cent in advanced G20 countries, the ILO said.

(With inputs from agencies.)


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