India records highest average wage growth in South Asia in 2008-17

India records highest average wage growth in South Asia in 2008-17

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United Nations :
India recorded the highest average real wage growth in South Asia during 200817, according to a report by the International Labour Organisation (ILO). Reflecting more rapid economic growth than in other regions, workers in Asia and the Pacific have enjoyed the highest real wage growth among all regions over the period 200617, with countries such as China, India, Thailand and Viet Nam leading the way, the Global Wage Report 2018/19 said.
In South Asia, India led the average real wage growth in 200817 at 5.5 against a regional median of 3.7. Following India was Nepal (4.7), Sri Lanka (4), Bangladesh (3.4), Pakistan (1.8) and Iran (0.4). The report said that all emerging G20 countries except Mexico experienced significant positive growth in average real wages between 2008 and 2017.
“Wage growth continues in Saudi Arabia, India and Indonesia, whereas in Turkey it declined to around 1 per cent in 2017,” it said adding that South Africa and Brazil have experienced positive wage growth starting from 2016 after a phase of mostly zero growth during the period 201216, with negative growth in Brazil during 201516. Faced with such low salary growth in richer economies in 2017 with pay growing at its lowest level in a decade – the ILO chief noted with concern that this has happened despite a recovery in global output.
For the first time, the ILO report also focuses on the global gender pay gap, using data from 70 countries and some 80 per cent of employees worldwide. Its findings indicate that despite some significant regional differences, men continue to be paid around 20 per cent more than women; “perhaps the biggest single injustice in the world of work”, Ryder said.
In high-income countries the gender pay gap is at its biggest in top-salaried positions. In low and middle-income countries, however, the gap is widest among lower-paid workers, the ILO report found.Its data also suggests that traditional explanations for this – such as differences in the levels of education between men and women who work – play only a “limited” role in explaining gender pay gaps.

Ranjini Trinitymirror

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