Half Of OECD Countries Earn Less Now Than Pre-Pandemic
According to a recent report, around half of OECD countries are earning less now than they had before the pandemic.
As Statista's Katharine Buchholz reports, when considering hourly real wages - wages adjusted for inflation - people in the United States, Canada, Japan, Australia and many European countries now have less money at their disposal than roughly four years ago. No data was published for Turkey, Chile and Colombia.
While the pandemic caused issues for some industries, others also started paying workers more as they wound up being in short supply due to the upheavals to employment Covid-19 caused. After the invasion of Ukraine by Russia in early 2022, most workers around the world took a hit to their real wages as inflation was running hot in many countries, causing price increases to effectively outweigh any potential wage growth.
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