current affairs International Labour Organisation (ILO) Global Wage report

ILO Global Wage report 2018-19

According to the International Labour Organisation (ILO) Global Wage report 2018-19, India has recorded the highest average real wage growth in South Asia during 2008-17.

About:
• The report highlighted that the global wage growth in 2017 was not only lower than in 2016, but fell to its lowest growth rate since 2008, remaining far below the levels observed before the global financial crisis.
• The gender pay gap figure was found to be at about 20 per cent globally.

  • The report shows that education is not the main issue of this gender pay gap as women wage employees across the world have just as well if not better education as compare to men.
  • Women continue to be under-represented in traditionally male-occupied categories and within similar categories women are consistently paid below men.
  • The report also highlighted the Gender polarization as an important factor which shows that in Europe, for example working in an enterprise with a predominantly female workforce can bring about a 14.7 per cent wage penalty compared to working in an enterprise with similar productivity attributes but a different gender mix.
  • The report shows that motherhood brings about a wage penalty that can persist across a woman’s working life while the status of fatherhood is persistently associated with a wage premium.

International Labour Organization
• The International Labour Organization (ILO) was founded in 1919 to promote social justice and thereby contribute to universal and lasting peace.
• The ILO is responsible for drawing up and overseeing international labour standards.
• It is the only tripartite United Nations agency that brings together representatives of governments, employers and workers to jointly shape policies and programmes
promoting decent work for all.
Real wage growth is calculated using gross monthly wages, rather than hourly wage rates, which are less frequently available, and fluctuations therefore reflect both hourly wages and the average number of hours worked.