Wages are a key aspect of the quality of work and a major component of household income. The 2008 ILO Declaration on Social Justice for a Fair Globalization therefore calls for policies in regards to wages and earnings, hours and other conditions of work, designed to ensure a just share of the fruits of progress to all and a minimum living wage to all employed and in need of such protection”.
The two ILO Conventions on minimum wage setting provide some detailed guidance on the machinery for minimum wage fixing and on the elements to take into consideration in determining the level of minimum wages, while the Global Wage Report provides an overview of major trends in wages and wage policies.
