November 26, 2018 / 12:43 PM / 3 months ago

Global wage growth slumps to 1.8 percent in 2017, lowest in a decade: ILO

Employees work at a production line assembling scale models of the moon rover for China's Chang'e 4 lunar probe, at a factory in Dongguan, Guangdong province, China November 16, 2018. REUTERS/Stringer/Files

GENEVA (Reuters) - Global wage grew by 1.8 percent in 2017, down from 2.4 percent in 2016 and the slowest rate since the global financial crisis in 2008, the International Labour Organization said in its two-yearly Global Wage Report on Monday.

“What is now widely recognized is that slow wage growth has become an obstacle to achieving sustainable economic growth,” ILO Director-General Guy Ryder wrote in the report.

In the past 20 years, average real wages have almost tripled in emerging and developing G20 countries, but they have risen by only 9 percent in advanced G20 countries, the ILO said.

Reporting by Tom Miles; editing by Stephanie Nebehay

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