Global wage growth fell to its lowest level in four years —ILO

Wage growth around the world has decelerated since 2012, falling from 2.5 per cent to 1.7 per cent in 2015, its lowest level in four years, the International Labour Organisation (ILO) said.
According to ILO’s Global Wage Report 2016/17, if China, where wage growth was faster than elsewhere, is not included, growth in global wages dropped from 1.6 per cent to 0.9 per cent,
It stated that in much of the period following the 2008/09 financial crisis, wage growth was propelled by relatively strong wage growth in developing countries and regions. More recently, however, it said the trend has slowed or reversed.
The report said: “Among emerging and developing G20 countries, real wage growth declined from 6.6 per cent in 2012 to 2.5 per cent in 2015. In contrast, wage growth among developed G20 countries rose from 0.2 per cent in 2012 to 1.7 per cent in 2015, the highest rate of the last 10 years. In 2015, wages grew to 2.2 per cent in the US, 1.5 per cent in Northern, Southern and Western Europe, and 1.9 per cent in the countries of the European Union.”