Wage growth in developed countries 2019-2023

Published by
Einar H. Dyvik,
Jan 16, 2024
Japan recorded the lowest growth rate in average wages of the three advanced major economies included here over recent years, with a year-on-year increase of only 0.2 percent in November 2023. This compares to a growth rate of 6.5 percent in the United Kingdom and in the United States in this month.

Wage growth in major developed countries from January 2020 to November 2023

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Release date

January 2024

Region

Worldwide

Survey time period

January 2020 to November 2023

Supplementary notes

Growth is calculated as follows for each country:
United Kingdom: year-on-year average weekly earnings (including bonuses)
Japan: year-on-year nominal cash earnings
United States: year-on-year wage growth

Wage growth figures for the euro area and major euro area economies can be found here.

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