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ILO’s Global Wage Report

Published on December 16, 2022
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”.
ILO’s Global Wage Report
  • 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
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