Feedback Here

fbook  tweeter  linkin YouTube
Global contents also translated in Chinese

COVID-19 forces global wages down: ILO report

  

As per an International Labor Organization report, the COVID-19 pandemic has forced global wages down - particularly for women and low-paid workers. The ILO's Global Wage Report 2020-21 highlights wages declined during the first six months of 2020 in two-thirds of countries. Women were disproportionately affected by this and the crisis is likely to inflict further massive downward pressure on wages in the near future.

Though in some countries, averages wages appeared to have increased, it was mainly a result of many lower paid workers having lost their jobs thereby skewing average earnings. Without subsidies, the average amount of wages lost across all groups is estimated to be 6.5 per cent. However, wage subsidies compensated for 40 per cent of this amount.

The recovery strategy must be human-centered and wage policies need to take into account the sustainability of jobs and enterprises, and also address inequalities and the need to sustain demand, said Guy Ryder, Director General, ILO

The report analyses minimum wage systems. It says that minimum wages are in place in some form in 90 per cent of ILO Member States. However, the report found that 266 million people – 15 per cent of all wage earners worldwide – are earning less than the minimum wage with women, again, over-represented.

To control this, but measures were needed, including better compliance, extending coverage to more workers, and setting minimum wages at an adequate, up-to-date level, the report says.

 
LATEST TOP NEWS
 


 
MOST POPULAR NEWS
VF Logo