Economic crisis eroding wages for second year running - ILO‏

Global growth in real wages slowed dramatically in 2008 as a result of the economic crisis and is expected to drop even further this year despite signs of a possible economic recovery according to the International Labour Organization (ILO).

The "Global Wage Report: 2009 Update" will be discussed at the ILO Governing Body in Geneva on 5-20 November as well as the implementation of the Global Jobs Pact adopted at the International Labour Conference in June. The Pact calls for measures to maintain employment and avoid the damaging consequences of deflationary wage spirals and worsening working conditions.

http://www.ilo.org/wcmsp5/groups/public/---dgreports/---dcomm/documents/publication/wcms_116500.pdf