WORLD WAGE RATES

Opotiki News, Volume I, Issue 76, 29 August 1938, Page 1

WORLD WAGE RATES

13 COUNTRIES COMPARED most marked advances - FRANCE AND AMERICA GENEVA, July 20.—Comparative , wage .statistics lor 13 countries. which him* -just been compiled by the International Labour Office, reveal that the most marked*-advances in wages since 1929 have occurred in France and in. the United States. Statistics for the United States, based "on hourly earnings, and shYiw that in 1937 nominal, or money .wages, which hadi declined 17 per cent, between 1929 and 1933, were 18 per cent above the 1933 level and 35 per cent above the 1929 level. Oil the other hand, real wages—that is money wages adjusted to take account of changes in living costs —were 53 per cent, higher in 1937 than in 1929. Statistics for .France, based, on hourly rates in Paris, show that nominal wages in 1937 were (jo per cent, higher than in 1929. However, owing to increased living costs, the rise in real wages, though 48 per cent, higher ia 1937 than in 1929,. was less marked. Germany and Japan are the only countries in which both nominal and real wages arc below the 1929 level. Statistics for Japan, based on daily earnings, show that nominal wages were 5 per cent, lower, mid real wages 1 per cent, lower, in 1937 than in .1929. But in Germany, the statistics based on hourly earnings show that nominal wages were 21 per cent, lower, and real wages 3 per cent, lower in 1937 than in 1929. For Great Britain, the statistics based on weekly rates, show that nominal wages were I per cent, higher, and real wages 10 per cent, higher in, 1937 than in 1929; while for New Zealand., the statistics based also on weekly rates, show that nominal wages were 2 per cent, higher and real wages 11 per cent, higher. In all the other countries—except Denmark and Italy, for which 1937 figures are not available—the statistics based either cm hourly earnings or rates, show that while, in 1937. nominal wages were still below the 1929 level, real wages are above that level.