Decline in real wages

Other Names:
Decline in personal income
Decline in earnings
Declining family economic conditions

[Developing countries] The developing world still depends on raw materials for the majority of its export earnings. But in the last ten years, real prices, and hence wages, the developing world's principal commodities, including fuels, minerals, jute, rubber, coffee, cocoa, tea oils, fats, tobacco, and timber have fallen by approximately 30%. The per capita income of the average Latin American is 9% lower today than it was in 1980. In some countries the standard of living has slipped back to what it was 20 years ago; one third of Latin America's population, 130 million people, live in dire poverty.


Related Problems:
Abuse of in kind payments
Problem Type:
D: Detailed problems
Related UN Sustainable Development Goals:
GOAL 8: Decent Work and Economic Growth
Date of last update
14.05.2019 – 17:09 CEST