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Emerging countries drive wage growth

Staff writer |
The 2014/2015 Global Wage Report by the International Labour Organization (OIT) shows that the emerging countries of the G20 were nearly single-handedly responsible for the growth in global wages last year.

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Still, the growth was modest and slower than in previous years.

According to the report, global wage growth was down 0.2% in 2013, but up 0.8% in Latin America and the Caribbean. Wages grew by 6% in Asia and 5.8% in Eastern Europe. In developed countries, wage growth slowed to almost zero for the second straight year.

The report highlights that in countries like Brazil, Argentina and Russia, wages and growing employment rates have been the main drivers of development.

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