Executive summary outline
- Major trends in wages
- The crisis continues to dampen wages
- Regional differences in wage growth
- Cumulative wage growth by region
- Regional difference in wage levels
- Falling labour shares and equitable growth
- A smaller piece of the pie for workers across the world
- The effects of a declining labour share {If competitive wage cuts are pursued simultaneously in a large number of countries, this may lead to a “race to the bottom” in labour shares, shrinking aggregate demand.)
- Implications for equitable growth
- Income distribution and wage levels
- Better linking productivity and wages
- Strengthening institutions
- Reform outside the scope of the labour market
- Looking beyond wage earners
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