Global Wage Report 2018-19

Published on Saturday, December 22, 2018
Global Wage Report 2018-19

About 

  • Global Wage Report is annually published by International Labour Organization (ILO). It focuses on different aspects of labour wages and its impact on equitable growth and social justice. Thus by providing data it assists member countries in drafting wage policies and help in assessing those policies. 

Key Findings 

  • Real global wage growth in 2017 (1.8%) fell to lowest since 2008, despite recovery in economic growth and the gradual reduction in unemployment. 
  • Real wage growth has been low in developed G20 countries (0.4%). 
  • High income countries have lower wage inequality than low and mid income countries e.g. Sweden. 
  • All emerging G20countries except Mexico experienced significant positive growth in average real wages between 2008 and 2017. 
  • Wage growth continues in Saudi Arabia, India and Indonesia whereas it declined in Turkey. 
  • Wages in developing countries are increasing more quickly than that of in higher-income countries. 
  • For the first time ILO also focuses on global gender pay gap which gives 
    • Women are paid 20% less than men 
    • Gender pay gap is wider at the high end of the pay scale in high-income countries, while in low and middle income countries the gender pay gap is higher among lower paid workers. 
    • They also differ in term of working time. 

Indian scenario

    • India has recorded highest average real growth in South Asia during 2008-17. 
    • It led average growth at 5.5 against a regional median of 3.7. 
    • India has one of the highest gender pay gap of 34.5% which is mainly due to occupational segregation, cultural barriers and unpaid household work by women. 
    • India is ranked in lower-middle income group. 

    Can I help you?

    ramandeep singh

    Hey I am Ramandeep Singh. I am determined to help students prepaing for RBI, SEBI, NABARD and IBPS exams. Do you want me to help you ?

    Join my class here
      Follow me:
    Close Menu
    Close Menu