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> I wouldn't be surprised if wages in the parts of the global population that's currently industrializing (parts of China and India) went up by way more than 43
by abdullahkhalids 3y ago
> I wouldn't be surprised if wages in the parts of the global population that's currently industrializing (parts of China and India) went up by way more than 43% though.
"The average salary increase in India is likely to be 10% in 2023, up from an actual increase of 9.8% in 2022" [1]
China's was in the range 3.7 percent, with salaries now a double of what they were a decade ago [2].
[1] https://economictimes.indiatimes.com/jobs/mid-career/salaries-in-india-to-increase-by-an-average-of-10-in-2023-wtw-survey/articleshow/98358668.cms https://economictimes.indiatimes.com/jobs/mid-career/salarie...
[2] https://www.china-briefing.com/news/average-salaries-in-china-trends-and-implications-for-businesses/ https://www.china-briefing.com/news/average-salaries-in-chin...
- tuatoru 3y agoAnd that's in the formal economy in India, which employs a small fraction of those employed. I found this mini-documentary by Polymatter[1] interesting. It asserts that Indian firms with ten or more employees are subject to inspections by the Indian labour inspectorate and a bunch of other requirements. For entirely unrelated reasons most Indian firms find 9 to be the optimum number of employees. 1. https://www.youtube.com/watch?v=Lvzn41Lv-O4&t=1s https://www.youtube.com/watch?v=Lvzn41Lv-O4&t=1s
- sharadov 3y agoAnd those are corporate jobs - sector like IT which are seeing rapid growth. I would like to see stats on factory job worker wage growth. No way are they seeing 40% growth! At the same time, YOY inflation in India is pretty high https://www.statista.com/statistics/271322/inflation-rate-in-india/ https://www.statista.com/statistics/271322/inflation-rate-in... India keeps the majority of the population afloat by big socialist spending - government handouts or there would be riots on the streets!