Global Wage Report 2024-25: Is wage inequality decreasing globally?
International Labour Organization (ILO)ILO
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What is it?
The Global Wage Report 2024-25, provides a detailed look at wage trends around the world and in different regions, highlighting changes in wage inequality and real wage growth. It explores key challenges workers face globally and sheds light on patterns of income differences between and within countries.
HIGHLIGHTS
- Blobal wages have been growing faster than inflation in recent times. In 2023, global real wages grew by 1.8 per cent with projections reaching 2.7 per cent growth for 2024, the highest increase in more than15 years.
- Despite recent progress high levels of wage inequality remain a pressing issue. The report shows that globally, the lowest-paid 10 per cent of workers earn just 0.5 per cent of the global wage bill, while the highest-paid 10 per cent earn nearly 38 per cent of this wage bill.
- One in every three workers is a non-wage worker. In most low- and middle-income countries the majority are self-employed workers, who can only find opportunities to earn a living in the informal economy.