Rising inflation has caused a striking decline in real monthly wages in many countries, the International Labour Organization (ILO) said in a report published on Wednesday, highlighting the urgent need for policies to prevent further poverty, inequality and social unrest.
Take-home pay around the world is growing at its slowest rate since the 2008 global financial crisis, the head of the International Labour Organization (ILO) said on Monday.
Based on the findings of the Global Wage Report 2018/19, ILO Director-General Guy Ryder warned that salaries are “stagnating” despite rising production, and that they are an “obstacle” to economic growth and better living standards.