Economic policymakers and business leaders worry a great deal about wage inflation. Average workers, not so much. That’s because real global monthly wage growth – which reflects the purchasing power of wages once cost-of-living inflation is considered – actually fell to negative 0.9 per cent in the first half of the year.
That is the first time since 2008 that real global wage growth has been negative, according to a new report by the International Labour Organisation.
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Financial Times
Rana Foroohar is a global business columnist and an associate editor at the Financial Times, based in New York. She is also CNN’s global economic analyst.
