Global wage growth slumps to lowest in a decade

Global wage growth slumps to lowest in a decade

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 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% in advanced G20 countries, the ILO said. (Reuters)

Source: www.businessworld.ie