According to an ILO report, India recorded the highest growth in average real wages in South Asia in 2008-17

India recorded the highest growth in average real wages in South Asia in 2008-17

India recorded the highest growth in average real wages in South Asia in 2008 at 17, according to a report of the International Labor Organization (ILO). Reflecting faster economic growth than in other regions, workers in Asia and the Pacific experienced the highest real wage growth in all regions between 2006 and 17, with countries such as China, India, Thailand and Viet Nam in the lead. Global Wage Report 2018/19 said. In South Asia, India dominated average real wage growth in 2008-17, up 5.5% from a regional median of 3.7%. After Nepal (4.7), Sri Lanka (4), Bangladesh (3.4), Pakistan (1.8) and Iran (0.4). The report indicates that all emerging G20 countries, with the exception of Mexico, posted significant positive growth in average real wages between 2008 and 2017.

"Wage growth continued Saudi Arabia, India and Indonesia, while it has decreased by about 1% in 2017, "he adds, adding that South Africa and Brazil have experienced growth positive salary from 2016, after a phase of almost zero growth during the 2012-2016 period, with negative growth in Brazil in 2015-2016. Wage growth in Russia fell sharply in 2015, again due to lower oil prices, but has since rebounded with moderate but positive wage growth. She also noted that a number of countries had recently taken steps to increase their minimum wage to provide more adequate labor protection. South Africa has announced the introduction of a national minimum wage in 2018, while Indian lawmakers are studying the possibility of extending the legal coverage of the current minimum wage of workers in jobs. "Regular" to all salaried employees in the country, he said. 19659003] ALSO READ | RBI eases the pressure on liquidity for NBFCs, small businesses; eases ECB hedging guidelines

The report adds that wages have risen faster and faster in less affluent countries than in richer ones, but wages are still too low in the countries in development. Wages rose only 0.4% over the past year in advanced economies, but by more than 4% in developing countries. "We are seeing a degree of convergence – I do not want to exaggerate it -" said ILO Director-General Guy Ryder, noting that "wages in developing countries are rising faster than those in high-income countries" ". This seems like good news, because we all want to see convergence across the world … But let's not exaggerate, because the gaps are still very important. Very often, the level of wages is still not high enough for people to be able to meet their basic needs, "he added.

Overall, global wage growth fell from 2.4% in 2016 to 1.8% in 2017. Findings are based on data from 136 countries. The ILO report also revealed that over the last 20 years, average real wages have almost tripled in emerging and developing G20 countries, while they have only increased by 9 percent. % in advanced G20 countries. Faced with so weak wage growth in the richest economies in 2017 – with wage growth at its lowest level in 10 years – the ILO leader noted with concern that this had been the case. despite a recovery in global production. For the first time, the ILO report also puts the spotlight on the overall pay gap between men and women, using data from 70 countries and about 80% of employees in the world. His findings indicate that despite significant regional differences, men continue to be paid about 20% more than women; "Perhaps the biggest injustice in the world of work," said Ryder.

In high-income countries, the pay gap between men and women is the largest among the highest-paying jobs. In the ILO report, however, the gap is largest in low- and middle-income countries. His data also suggests that traditional explanations of this situation – such as differences in educational levels between working men and women – play only a "limited" role in the explanation of pay gaps between men and women. "In many countries, women have a higher level of education than men but earn lower wages, even when they work in the same occupational categories," said Rosalia Vazquez-Alvarez, an expert on BIT. "Salaries for men and women also tend to be lower in female-dominated businesses and occupations." To reduce the gender pay gap, she recommended greater emphasis on equal pay for men and women and the lower value placed on women's work.