ILO Global Wage Report shows the lowest wage growth of 1.8% last year
- 5 years ago
On Monday, International Labour Organization announced its two-yearly Global Wage Report.
Among other things,... the report showed a worrying slump in wage growth around the world.
Hong Yoo reports.
The global economy has been on a steady recovery path... since the financial crisis in 2008, this according to a Monday report by the International Labour Organization.
Along with global growth, the world unemployment rate has decreased compared to the year 2016.
Yet, global wage growth in 2017 fell to 1-point-8 percent,... its lowest-ever since the 2008 financial crisis..
The ILO's Global Wage Report... based on data collected from 136 countries showed a 0-point-6 percentage point decrease in global wage last year compared to 2016.
But the wage picture is even gloomier without China,... a country which is experiencing rapid economic growth,... with global wage growth seen at a mere 1-point-1 percent when China is excluded.
The reports also showed that female workers are being paid about 20 percent less on average than men for work of equal value around the world.
"In high income countries the gender pay gap tends to be higher among top income earners, reflecting to some extent, I think, the phenomenon of the glass ceiling, whereas in emerging and developing countries the gap tends to be much greater at the bottom end of the wage scale."
One key factor in the gender wage gap was motherhood,... meaning those with children earned less than those who are not mothers.
But the gender disparity in wages were also seen among those who hadn't reached motherhood as well.
Thus, the report suggests a need to combat stereotypes and gender discrimination in the labour market in order to achieve social justice for women.
Hong Yoo, Arirang News.
Among other things,... the report showed a worrying slump in wage growth around the world.
Hong Yoo reports.
The global economy has been on a steady recovery path... since the financial crisis in 2008, this according to a Monday report by the International Labour Organization.
Along with global growth, the world unemployment rate has decreased compared to the year 2016.
Yet, global wage growth in 2017 fell to 1-point-8 percent,... its lowest-ever since the 2008 financial crisis..
The ILO's Global Wage Report... based on data collected from 136 countries showed a 0-point-6 percentage point decrease in global wage last year compared to 2016.
But the wage picture is even gloomier without China,... a country which is experiencing rapid economic growth,... with global wage growth seen at a mere 1-point-1 percent when China is excluded.
The reports also showed that female workers are being paid about 20 percent less on average than men for work of equal value around the world.
"In high income countries the gender pay gap tends to be higher among top income earners, reflecting to some extent, I think, the phenomenon of the glass ceiling, whereas in emerging and developing countries the gap tends to be much greater at the bottom end of the wage scale."
One key factor in the gender wage gap was motherhood,... meaning those with children earned less than those who are not mothers.
But the gender disparity in wages were also seen among those who hadn't reached motherhood as well.
Thus, the report suggests a need to combat stereotypes and gender discrimination in the labour market in order to achieve social justice for women.
Hong Yoo, Arirang News.