- 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:
- Asia and the Pacific- 1.3%
- G20 Countries- (-)2.2%
- ILO suggested the following repercussions of the steep fall in global wage growth:
- Income Inequality
- Poverty
- 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
