Tag Archives: OECD

2018 Projected Global Wage Growth

12 Jan

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:

 

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.

 
2018 Projected Global Wage Growth - Statista chart
 

In What Country Are People the Happiest? (Hint: It’s Not the U.S.)

7 Sep

The OECD (Organization for Economic Cooperation and Development) currently comprises 34 countries: Australia, Austria, Belgium, Canada, Chile, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Israel, Italy, Japan, Korea, Luxembourg, Mexico, Netherlands, New Zealand, Norway, Poland, Portugal, Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Turkey, United Kingdom, United States.

The OECD regularly conducts surveys in its member countries to determine the Life Satisfaction there:

“Life satisfaction measures how people evaluate their life as a whole rather than their current feelings. It captures a reflective assessment of which life circumstances and conditions are important for subjective well-being. When asked to rate their general satisfaction with life on a scale from 0 to 10, people across the OECD gave it a 6.6 grade. Life satisfaction is not evenly shared across the OECD, however. Some countries – Estonia, Greece, Hungary, Portugal, and Turkey – have a relatively low level of overall life satisfaction, with average scores of less than 5.5. At the other end of the scale, scores were higher than 7.5 in Canada, Denmark, Norway, and Switzerland. There is little difference in life satisfaction levels between men (6.6) and women (6.7) across OECD countries. Education levels do, however, strongly influence subjective well-being. Whereas people who have only completed primary education across OECD countries have a life satisfaction level of 6.2, this score reaches 7.2 for people with tertiary education.”

According to the OECD’s most recent survey, the United States rates 17th in Life Satisfaction among the 34 countries: “In general, Americans are less satisfied with their lives than the OECD average, with 75% of people saying they have more positive experiences in an average day (feelings of rest, pride in accomplishment, enjoyment, etc.) than negative ones (pain, worry, sadness, boredom, etc.). This figure is lower than the OECD average of 76%. The top five countries in Life Satisfaction are Switzerland, Norway, Denmark, Canada, and Iceland.

Click this link, then click the “Countries” tab, and choose a country to learn more about “How’s Life” in each of the 34 countries in the OECD survey.

And for a fun interactive Web site on the “Better Life Index,” click the chart below, look at the responses in the individual countries, and enter your own answers. [Note: Click “Create your index”]

 
Better Life Index
 

%d bloggers like this: