Global Wage Report is published by the International Labour Organization (ILO), which mainly focuses on the current wages trends worldwide. Besides gauging the wages trends, it also ensures how adversely the pandemic affected the wages globally in relevance to the global economy and labour market context.
Global Wage Report - Overview
The report examines the evolution of real wages all across the globe, providing a precise picture of the wages trend in every part of the world. It also features the policy recommendations to eradicate the negative impact of the crisis.
In the period between 2016 - 2019, the Asian and Pacific regions witnessed the highest real wage growth. On top of that, India was one of the countries that were known to increase the real wages substantially in a concise duration. However, things changed after the Covid-19 occurred. It was also perceived that Indian workers worked the hardest during the pandemic and earned the lowest after Bangladesh.
Let's find out all the key findings of the Global Wage Report for the last year.
Key Findings of Global Wage Report 2021-2022
- Out of 32.7 crore wage earners, 15.3 crores are women paid at or below the hourly minimum wage. The rest of the wage earners are men.
- 90 countries adhere to minimum wages payout (negotiated or statutory), out of 187 members of ILO.
- The world experienced higher wage inequalities during the pandemic. Predominantly, low-paid workers faced unprecedented challenges. However, many countries supported the miserable workers by providing them wage subsidies and compensation allowances.
- From 2015 to 2019, the global wage growth rate was between 1.6% to 2.2%. In contrast, the growth tumbled to 0.9%-1.6% in 2020.
- 87 countries were found to be dealing with irregular minimum wage rate adjustments, out of which only 12 countries increased the minimum wages in 2020's first half.
Key Facts Global Wage Report
South Africa and Namibia are the 2 countries having the highest wage inequalities among all other low-income countries. However, Chile is categorized as a high-income country and reported with the highest wage inequality.
Global wage growth was calculated to be at 2.4% in 2016; it dropped to 1.8% the following year.
Women's wages are not given equally as men's and are under-represented in male-occupied categories. The gender pay gap is the social injustice that is the lowest in high-income countries in the top-salaried positions. In contrast, it is highest in the low-income countries, among the low paid workers.
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The Global Wage Report is an important measure to evaluate the relative inequalities between the wages of different countries. It also measures systemic inequalities in income between various demographics in a country, such as inequalities between men and women.
FAQs on Global Wage Report
Q1. What is the Minimum Wage for India in 2021 according to the Global Wage Report?
According to the Global Wage Report, India's minimum wage was 176INR in 2019 and is projected to trend around 190 INR per day as per econometric models by the end of 2022.
Q2. Who publishes the Global Wage Report?
The ILO (The International Labour Organization) is solely responsible for publishing the Global Wage Report.
Q3. Other than the Global Wage Report, what reports are released by ILO?
Besides the Global Wage Report, WESO (The World Employment and Social Outlook) is a flagship report prepared by ILO on the world of work issues. The report is based on a different theme each year as it undertakes the analysis of policies and indicators that achieve balanced incomes and appropriate employment.
Q4. Who are not members of ILO, the organisation which publishes the Global Wage Report?
187 countries are state members of ILO, the organisation which publishes the Global Wage Report. UN member states that are not members of the International Labour Organization include Nauru, Micronesia, Bhutan, North Korea, Andorra, Liechtenstein, and Monaco.