The ILO’s World Employment and Social Outlook study (September) has definitively linked declining trends in labour’s income share of total income within nations to technological advances — mainly automation and artificial intelligence . In an analysis of the past two decades, it mentions a 1.6% drop in the global labour income share between 2004-24. More ominously, almost 40% of this decline was in the pandemic years of 2019-22 — a drop that has not been recouped in the past couple of years. Labour income share is a measure widely used to assess income inequalities within economies. The 1.6% drop […]
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