Content |
Salaries in countries
- Salaries in Russia
- Salaries in Belarus
- Salaries in Ukraine
- Salaries in Spain
- Salaries in the United States
History
2023: Minimum wage in 67 countries
2022
Decrease in real income per employee in the third quarter in some countries
in
UN: Real wages in the world fell for the first time in 20 years
On November 30, 2022, the International Labor Organization (ILO), a specialized UN agency, published the results of a study according to which real wages in the world decreased for the first time in 20 years.
The presented report says that the drop in wages on a global scale in the first half of 2022 was 0.9%. This is due to the current macroeconomic situation, high inflation rate and reduced purchasing power of citizens as a whole. It is noted that in the developed countries of the G20, real wages during the first six months of 2022 decreased by 2.2%, while in the developing countries of the G20, on the contrary, the indicator increased by 0.8%.
Rising inflation has a greater impact on the quality of life of low-income people, the report said. This is due to the fact that citizens in this social group spend the bulk of their income on essential goods and services, the prices of which are growing most intensively against the background of the global economic crisis. The study notes that there is an urgent need to apply well-designed support measures to help preserve people's purchasing power and living standards, as well as ensure economic growth.
In North America (Canada and the United States), the growth of average real wages decreased to zero in 2021, while in the first half of 2022, a drop was recorded at 3.2%. The European Union recorded an increase of 1.3% in 2021, but in the first half of 2022 there was a drop of 2.4%. In Eastern Europe, real wage growth amounted to 4.0% in 2020 and about 3.3% in 2021, but in the first half of 2022, wages decreased by an average of 3.3%. In the Asia-Pacific region, wage growth was 3.5% in 2021 and 1.3% in the first half of 2022.[1]
See also
- Labor market in the countries of the world (IT and telecom)
- Labor market in Russia (IT and telecom)
- Labor market in Russia
- U.S. Labor Market
- Labour market in Finland
Notes
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