Global trends in wage dynamics

Under the conditions of growing economic uncertainty, geopolitical tensions, and the im­pact of technological changes, the issue of wage dynamics has acquired strategic importance. The aim of this research is to identify key trends in wage dynamics globally and in specific regions. To achieve this aim, the research employs statistical, comparative, and systemic analysis methods, as well as systematization, grouping, and scientific abstraction. The hypo­thesis, which is tested in this research, is that global wage dynamics are determined by the combined influence of economic, technological, demographic, social and political factors. Overall, global trends in wage dynamics across Europe, North and South America, Asia, Africa, and the Arab world are influenced by regional characteristics and shaped by economic, social, and political factors. It was found that the largest declines in wages occurred during the global financial crisis (2008–2009) and the COVID-19 pandemic (2020–2021), due to a sharp reduction in economic activity, a drop in employment and a slowdown in labor productivity growth. The unevenness of real wage growth by region is substantiated with high rates in the Asia-Pacific region, Central and Western Asia, and Eastern Europe, and moderate rates in countries with developed market economies in Western Europe and North America. The analysis of the ratio between minimum and maximum wages in Poland, Germany, the USA, and Ukraine from 2016 to 2023 reveals signify­cant differences in levels of social inequality. The reduction of the wage gap in developed countries is a result of active social policies, whereas in Ukraine, it remains substantial due to structural economic problems. Global trends in wage dynamics have been identified: growing wage inequality, the impact of the latest technologies on the labor market and its pay, the impact of the COVID-19 pandemic, and the globalization of the labor market. The existence of a gap between high-skilled and low-skilled workers, regional inequality in wages, the gender gap, the impact of automation and robotics on wages, wage growth in critical sectors of the economy, wage cuts in sectors affected by the pandemic, relocation of produc­tion to countries with cheaper labor and compe­tition through outsourcing are proven. It is emphasized that the growth of the global inflation rate has a negative impact on the real incomes of employees, reducing their purcha­sing power. The slowdown in global economic growth, geopolitical risks, the energy crisis in Europe and the food crisis in Africa as a result of russian aggression against Ukraine signify­cantly affected the dynamics of wages on a global scale