ILO’s Global Wage Report

Current Context: The International Labour Organization (ILO) released its report titled, “Global Wage Report 2022-23: The Impact of COVID-19 and Inflation on Wages and Purchasing Power”.

• The report estimated that, for the first half of 2022, the global monthly wages in real terms fell to minus 0.9% (-0.9%).
• It was the first time in the 21st century that the real global wage growth was negative.
• The report mentioned that the real wage growth for the first half of 2022 for:

1. Asia and the Pacific- 1.3%
2. G20 Countries- (-)2.2%

• ILO suggested the following repercussions of the steep fall in global wage growth:

1. Income Inequality
2. Poverty
3. Social Unrest

• The ILO is a UN agency to ensure social and economic justice across the world. It was established in 1919 and has its headquarters in Geneva, Switzerland. The current Director-General of the organization is Gilbert F. Houngbo.

Question:

Q.1 Which of the following released the “Global Wage Report 2022-23: The Impact of COVID-19 and Inflation on Wages and Purchasing Power” report?
a. NITI Aayog
b. Amnesty International
c. WHO
d. ILO