Top executives from India, three countries saw 9% pay hike in 2022 but workers took 3% cut: Report

The pay of top executives in India, the United Kingdom, the United States and South Africa increased by 9% in 2022, while workers worldwide took a 3.1% pay cut, a report by non-governmental organisation Oxfam International on Monday said.

The figures are based on the latest data from the International Labor Organization and other government statistics agencies.

According to the report, one billion workers in 50 countries took an average annual pay cut of $685 (around Rs 55,995) in 2022, a collective loss of $746 billion (around Rs 61.04 lakh crore) in real wages.

Of these, the report said that women and girls were putting in at least hours worth 380 billion (around Rs 31 lakh crore) of unpaid care work every month.

“Women workers often have to work reduced paid hours or drop out of the workforce altogether because of their unpaid care workload,” it said. “They also continue to face gender-based discrimination, harassment, and less pay for work of equal value as men.”

In Brazil, the wages of workers fell 6.9%, while in the US and the UK, it was reduced by 3.2% and 2.5%.

Meanwhile, the top 150 executives in India were paid $1 million (about Rs 8.17 crore) in 2022, the NGO said in its report. “A...

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