Global Wage Report

Global Wage Report

• Global wage report 2020-21 released by the International Labour Organization (ILO) Report titled “Wages and minimum wages in the time of COVID-19” presents the emerging empirical evidence of the effects of the crisis on wages,

Key findings

• The disproportionate impact of COVID-192 workers in lower-skilled occupations lost more working hours than higher-paying managerial and professional jobs.
• Informal workers in India suffered a 22.6% fall in wages, even as formal sector employees had their salaries cut by 3.6% on an average,
• Gender wage gap: Without wage subsidies, women would have lost 8.1% of their wages in the second quarter of 2020 compared to 5.4% for men.
• Between 2016-19, wages increased most rapidly in Asia and the Pacific and Eastern Europe and slowly in North America and northern, southern and western Europe.

Recommendations

• Adequate and balanced wage policies arrived at through strong and inclusive social dialogue.
• Adequate minimum wages could help to ensure more social justice and less inequality
• ILO is the United Nations agency. It brings together governments, employers and workers to drive a human-centred approach to the future of work through employment creation, rights at work, social protection and social dialogue