G-20 Nations Saw Real Wage Growth Slump Last Year, ILO Says
(Bloomberg) -- Real wage growth in Group of 20 nations slowed last year, especially in advanced economies, as inflation eroded pay gains, according to data compiled by the International Labour Organization.
Pay growth across the group, whose leaders are preparing to meet this week in Argentina, declined to 2.1 percent from 2.7 percent in 2016. Workers in advanced nations saw the weakest gains, with wage increases of 0.4 percent. That’s the least since 2014 and compares to growth of 4.3 among emerging economies.
“It’s puzzling that in high-income economies we see slow wage growth alongside a recovery in GDP growth and falling unemployment,” said ILO Director-General Guy Ryder. “Early indications suggest that slow wage growth continues in 2018.”
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