Rising inflation brings striking fall in real wages, ILO report finds.

December 1, 2022

GENEVA (ILO News) – The severe inflationary crisis combined with a global slowdown in economic growth – driven in part by the war in Ukraine and the global energy crisis – are causing a striking fall in real monthly wages in many countries.

According to a new International Labour Organization (ILO) report, the crisis is reducing the purchasing power of the middle classes and hitting low-income households particularly hard.

The Global Wage Report 2022-2023: The Impact of inflation and COVID-19 on wages and purchasing power, estimates that global monthly wages fell in real terms to minus 0.9 per ...

Source: https://www.smn-news.com/index.php/st-maarten-st-martin-news/41935-rising-inflation-brings-striking-fall-in-real-wages-ilo-report-finds.html

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