The ILO’s findings, published in its latest World Employment and Social Outlook report, highlight the growing gap between the rich and the poor, and the increasing concentration of wealth in the hands of a few. This trend is particularly pronounced in developed countries, where the share of global labour income has fallen to 48% in 2022, down from 55% in 2008. The ILO attributes this decline in labour income share to a combination of factors, including:

* **Automation and AI:** These technologies are replacing human workers in various industries, leading to a decrease in the demand for labour and, consequently, lower wages.

This is a significant trend, as it suggests that the global economy is experiencing a widening gap between the rich and the poor. The International Labour Organization (ILO) has released a report highlighting the stagnation of global wages and the widening gap between the rich and the poor. The report, titled “The State of Working Conditions 2023,” reveals that global employment has declined by nearly 40% since 2020, with the pandemic being a major contributing factor. The ILO’s analysis reveals that while production output has increased over the last two decades, income has not kept pace.

,” he said. “We need to address this issue of income inequality and ensure that the benefits of economic growth are shared more equitably.”

This statement by Mr. Kapsos highlights the growing concern over income inequality, a pressing issue that demands immediate attention.

The International Labour Organization (ILO) has called for a global minimum wage and a strong commitment to worker protection. The ILO, a specialized agency of the United Nations, emphasizes the importance of fair labor practices and decent working conditions for all workers. The ILO’s call for a global minimum wage is rooted in the belief that a living wage is essential for workers to meet their basic needs and participate fully in society.