[OPE] Global wage report 2009

The report notes that in half of the 35 countries for which figures are
available, real monthly wages fell in the first quarter of 2009 compared to
their average of 2008, often due to cuts in hours worked. This follows
another difficult year for wages in 2008. In a sample of 53 countries for
which data are available, growth in real average wages in the median country
had declined from 4.3 percent in 2007 to 1.4 percent in 2008. Among the ten
G-20 countries for which the data is available, growth in real average wages
in the median country had declined from 1.0 percent in 2007 to -0.2 percent
in 2008. (...) The current deterioration in wages follows a decade of wage
moderation before the global economic crisis. The report considers that
years of stagnating wages relative to productivity gains - together with
growing inequalities - have contributed to the crisis by limiting the
ability of many households to increase consumption other than through debt.

From
http://www.ilo.org/global/About_the_ILO/Media_and_public_information/Press_releases/lang--en/WCMS_116503/index.htm

The report
http://www.ilo.org/wcmsp5/groups/public/---dgreports/---dcomm/documents/publication/wcms_116500.pdf

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Received on Tue Nov 10 12:51:35 2009