Global wage growth slumps to 1.8 percent in 2017\, lowest in a decade: ILO

Global wage growth slumps to 1.8 percent in 2017, lowest in a decade: ILO

Reuters  |  GENEVA 

(Reuters) - Global wage grew by 1.8 percent in 2017, down from 2.4 percent in 2016 and the slowest rate since the global financial crisis in 2008, the 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 wrote in the report.

In the past 20 years, average real wages have almost tripled in emerging and developing countries, but they have risen by only 9 percent in advanced countries, the ILO said.

(Reporting by Tom Miles; editing by Stephanie Nebehay)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 26 2018. 18:08 IST