LONDON: In 2014, a few days after she took over as chair of the U.S. Federal Reserve, Janet Yellen admitted that she could not fathom the "very worrisome" trend of weak wage growth for American workers. In many countries, more people are in work than before the global financial crisis as the world economy racks up its strongest growth since 2010. But pay, which would normally rise more quickly as employers compete for staff, is rising painfully slowly for many. If wage growth is weak in the United States, the picture is bleaker for workers in many other countries. For OECD economies overall, real wage growth is projected to remain moderate, barely picking up speed over the next couple of years, the Paris-based organization says.

Source: Economic Times December 01, 2017 13:52 UTC