INSUBCONTINENT EXCLUSIVE:
Towering inflation will drive down the wage jump yet again, according to a new survey that sees just 37 per cent of countries globally
suffered their biggest hit this year, since the survey kicked off in 2000
Despite a 3.5 per cent average nominal pay increase, salaries in real terms fell 5.6 per cent, due to 9.1 per cent average inflation
They are set to tumble another 4 per cent in 2023.
In the US a real-terms drop of 4.5 per cent this year is expected to be reversed by
falling inflation next year, translating into a 1 per cent real-terms salary hike.
Asian nations make up eight of the top 10 countries
Only around a third of the countries surveyed are forecast to see real-terms salary increase, though this is better than the 22 per cent
ECA's Salary Trends Survey is based on information collected from over 360 multinational companies in 68 countries and cities.
