ILO: the wages in the developed economies are three times higher than in the developing countries

The wages in the developed economies are still on average three times higher than in the developing countries, despite the fact that over the past decade, the average wages of the developing countries came closer to the wages of the developed countries – the latest global report on the wages of the International Labour Organisation (ILO) reveals.

Wage growth around the world slowed in 2013 to 2.0 per cent, compared to 2.2 per cent in 2012, and has yet to catch up to the pre-crisis rates of about 3.0 per cent, according to the ILO’s Global Wage Report 2014/15.
Even this modest growth in global wages was driven almost entirely by emerging G20 economies, where wages increased by 6.7 per cent in 2012 and 5.9 per cent in 2013. (MTI)