Core Insights - The 2024-2025 Global Wage Report by the International Labour Organization focuses on global wage inequality and trends, indicating a negative growth in global real wages in 2022, a recovery in 2023, and the largest growth in 15 years expected in the first two quarters of 2024 [1][13][38] - Wage growth varies significantly across different economies, with G20 developed economies experiencing consecutive declines in real wages from 2022 to 2023, while G20 emerging economies maintained positive growth during the same period [1][39] - The report highlights that approximately two-thirds of countries with available data have seen a reduction in wage inequality since the early 21st century, although the income share of the lowest 10% of earners remains disproportionately low compared to the highest 10% [1][14] Wage Trends - Global average nominal wage growth has outpaced inflation, with a reported real wage growth of 1.8% in 2023 after a decline of -0.9% in 2022 [13][38] - The G20 developed economies saw a real wage decline of 2.8% in 2022 and 0.5% in 2023, while G20 emerging economies experienced growth of 1.8% in 2022 and 6.0% in 2023 [39] - Preliminary data for the first two quarters of 2024 indicates a global real wage growth of 2.7%, marking the highest increase in over 15 years [39] Regional Analysis - Wage growth is notably higher in the Asia and Pacific regions, Central Asia, and Eastern Europe, while regions like Africa and North America have seen slower or negative growth [1][39] - In 2022, only Africa, Asia and the Pacific, and Central Asia experienced real average wage growth, while other regions faced declines ranging from -0.8% to -3.7% [39] Inequality Insights - The report emphasizes that the income of the lowest 10% of earners accounts for only about 0.5% of total wages, while the highest 10% earn nearly 38% of total wages, indicating significant wage disparity [1][14] - Gender income gaps and the divide between formal and informal workers have widened, particularly in low- and middle-income countries, where the labor market is predominantly composed of informal workers [1][14] Policy Recommendations - The report suggests that promoting gender equality, formalizing the informal economy, and strengthening wage policies are crucial for reducing wage inequality and improving the living standards of workers [1][14]