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2.3 Income
Analysts have raised the forecast for nominal wage growth in 2024 to 17.2% (+1.2 pp), with slower growth projected at 10.4% (+1.4 pp) in 2025, 7.6% (+0.6 pp) in 2026 and 6.5% (-0.1 pp) by 2027. Real wages are predicted to rise by 8.3% in 2024, 3.9% in 2025, 2.8% in 2026 and 2.3% in 2027. Overall, real wages are projected to be 27.9% higher in 2027 than in 2021, compared with 24.9% in the September forecast.
Real wages to grow by 2.7% on average globally in 2024 – ILO
"In the meantime, wage growth has been uneven across regions, with emerging economies experiencing stronger growth than advanced economies," the International Labour Organisation highlighted in its report.
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