Emerging countries drive wage growth
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. ■