November 26, 2018 / 12:38 PM / 14 days ago

Global wage growth slumps to 1.8 percent in 2017, lowest in a decade: ILO

FILE PHOTO: Migrant workers move a cart down a road near a construction site in central Beijing March 26, 2012. REUTERS/David Gray

GENEVA (Reuters) - Global wage grew by 1.8 percent in 2017, down from 2.4 percent in 2016 and the slowest rate since the global financial crisis in 2008, the International Labour Organization said in its two-yearly Global Wage Report on Monday.

“What is now widely recognized is that slow wage growth has become an obstacle to achieving sustainable economic growth,” ILO Director-General Guy Ryder wrote in the report.

In the past 20 years, average real wages have almost tripled in emerging and developing G20 countries, but they have risen by only 9 percent in advanced G20 countries, the ILO said.

Reporting by Tom Miles; editing by Stephanie Nebehay

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