Average wage growth is a key sign of how well a country’s economy is doing.When wages rise, it typically signals that businesses are thriving and can afford to pay their employees more, which in turn boosts consumer spending and stimulates further economic growth.On the other hand, stagnant or declining wages can indicate economic challenges, such as high unemployment, low productivity, or weak business performance.This graph shows the average annual real wage growth for full-time workers of G7 countries from 2000 to 2022. The data comes from the OECD and is updated as of March 2024.Data is in U.S. dollars and adjusted for purchasing power parity (PPP), which equalizes the purchasing power of different currencies. Wages are adjusted for inflation to reflect 2021 prices.
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