In this post, we look at 2018 projected global wage growth. Why?
For many (most) of us, salary/wage data acts as a useful tool. With such data, we can better judge our value to the company and for our job sector. As these links show:
- Robert Half 2018 Salary Guides
- Looking for Marketing Salary Information?
- Should Salaries Be Transparent?
2018 Projected Global Wage Growth
In 2018, wage growth will be mixed. And this goes for the United States and other OECD countries. The Organization for Economic Cooperation and Development consists of 35 nations. As it states, its mission “promotes policies that improve economic and social well-being of people around the world.”
Recently, Statista summarized the results of research on OECD wages in 2018 [NOTE: the wage projections reflect the impact of inflation. This results in the real rate of change. In the U.S., we measure real wages by studying both wages and the consumer price index.]:
“In analyzing OECD data, London-based Trades Union Congress (TUC) prepared forecasts for wage growth in developed economies for 2018. And it’s good news for a number of Eastern European nations. With Hungary, Latvia, and Poland expected to see the largest increases at 4.9, 4.1, and 3.8 percent.”
“But tougher times await those in the soon-to-be-divorced U.K. In that case, real wages will shrink by 0.7 percent. The U.S. appears on the positive side of the chart. A 1.2 percent real jump upwards is predicted.”
As we can learn from the Statista chart shown below.
- For 2018, TUC offers wage projections for 32 OECD countries.
- Of those 32 countries, 28 will have real wage growth in 2018.
- However, TUC projects that just six OECD countries will show wage growth of at least 3 percent in 2018.
- In 2018, the U.S. will rank 13th of the 32 nations for wage growth.
- Besides in the U.K., wages will decline in Spain and Italy. And they will be flat in Switzerland.