Developed Country Wages Show No Growth In 2012

Saturday, December 8, 2012 - 11:30am

The united nations' labor agency says wage growth is still far below pre-crisis levels globally and has dipped into the Red in developed countries. The international labor organization's director general says the report shows a strong, but not uniform, impact on wages and workers. It indicates huge differences between countries and regions as wages generally grew faster in areas with stronger economic growth. Wage growth fell in developing countries while remaining positive during the crisis in Latin America, The Caribbean, Africa, and Asia.

The ILO's Report also said wages grew at a slower pace than labor productivity over the decades in a majority of countries for which date was available.

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