Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 33 n° 335

According to the latest Salary Trends

Posted by fidest press agency su sabato, 24 novembre 2018

Report by ECA International (ECA), UK employees in the private sector are expected to see a real salary increase of 0.8 percent in 2019, the equivalent of almost £20 a month (£237.35 per annum) for the average worker¹ before tax. This is following a better than expected salary increase for UK workers in 2018 (0.4 percent), originally forecasted to be among the lowest in Europe at 0.2 percent.The real salary increase is calculated based on the difference between the forecast nominal salary increase (3 percent in the UK) and inflation² (2.2 percent).A significant factor which could impact these figures however, is the UK’s impending withdrawal from the EU.The annual Salary Trends Report from global mobility experts ECA International, analyses current and projected salary increases for local employees in 69 countries across the world.
The average real salary increase across Europe is expected to be 0.8 percent, unchanged from 2018, while inflation in Europe is forecast to be the lowest in the world next year at 1.8 percent on average.After employees in Ukraine experienced a -0.9 percent decrease to their salaries in 2018, the improved inflation forecast in the country means that workers look set to receive a real salary increase of 2.7 percent – the highest in Europe next year. Ukraine is also the only European country to be in the top 10 for highest real salary increases in the world next year, and the only nation outside of the Asia-Pacific region.
Asian nations once again dominate the global top twenty highest wage increases. 14 of the top twenty, and all but one of the top ten, are Asian countries.
India tops the rankings for 2019, where employees are forecast to receive a 5.1 percent real salary increase, over six times more than employees in the UK.
Although employees in the United States are forecast to receive a slightly higher real pay rise than those in the UK (0.9 percent), it still falls below the average real salary increase in the Americas which is predicted to be 1.5 percent. Inflation in the Americas remains higher than average at 3.2 percent on average, compared with the global average of 2.3 percent.
However, employees in Peru look set to benefit from the lowest inflation in the region in 2019, making it the highest salary increase expected in the Americas at 2.5 percent.
Argentina sits at the bottom of ECA’s table, with the forecast predicting a -8.7 percent decrease in the average real salary. This comes off the back of a -11.6 percent decrease in real salaries in 2018.
Kilfedder said “The bad news continues for workers in Argentina with another decrease in their real wages predicted for the coming year. The economic policies of President Macri, that were designed to reverse years of economic turmoil, have failed – resulting in an International Monetary Fund (IMF) bailout of over USD 56bn. With inflation set to remain sky-high at 31.7 percent, far outstripping salary increases, another decrease in Argentinian real salaries now looks inevitable.” High inflation continues to suppress pay increases in Africa, Middle Eastern outlook is mixed. Although employers in Egypt, Nigeria and Turkey are expected to offer among the highest nominal pay increases next year, high levels of inflation mean employees in each of these countries will likely receive real pay decreases of 1 percent, 3.2 percent and 6.7 percent respectively. However, workers in Saudi Arabia and United Arab Emirates are expected to see a boost in 2019 compared to this past year as inflation in most parts of the Middle East looks set to ease.Kilfedder said “The real salaries in Saudi Arabia and the UAE look set to increase to 2.0 percent and 2.1 percent respectively after a disappointing 2018 which saw a drop in salary increases for both nations. This is a result of inflation easing after a short-lived spike last year following the introduction of a 5 percent VAT in January 2018.”


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