International Labour Organisation shares a positive global trend: Let’s find out

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The UN International Labour Organisation (ILO) highlighted on Thursday that pay packets across the globe increased 1.8% in 2023 and continued their positive trajectory in the first half of 2024, rising by 2.7%.

The positive trend comes on the back of a strong post-COVID global recovery. ILO Director General Gilbert Houngbo said that if this development is confirmed, it is going to be the largest increase in more than 15 years.

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Rising productivity in the limelight


The major problem here is that the trend for bigger pay packets is not shared equally across regions. The change is less marked in highly-industrialized economies. Emerging economies, on the other hand, noted a bumper near 6% increase in 2023.

The UN agency also pointed out that productivity increased more rapidly than pay packets in high-income countries from 1999 to 2024. This discrepancy originated mainly during the financial crisis of 2008 to 2009 and latterly as a result of the COVID pandemic.

About Wrighter

Wrighter covers news across the global on Human Rights, Migrants Rights, and Labor Rights. Wrighter has vast experience in writing and is a doctor by profession.

Wrighter

Wrighter covers news across the global on Human Rights, Migrants Rights, and Labor Rights. Wrighter has vast experience in writing and is a doctor by profession.

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