In 2021 there will be no wage increase – Korn Ferry: Inflation will zero the growth

At the end of the year, Korn Ferry, one of the world’s largest research firms with a market capitalization of billions of dollars, publishes next year’s wage forecasts for the vast majority of the world’s countries. Should we expect wage increases next year according to this Korn Ferry forecast?

The answer is “no”. Based on this forecast, it results that the salary increase in Albania will be at 2.0% next year, but given the increase in consumer prices, there will be no real salary increase. The World Bank projects a consumer price growth rate next year close to 2.1%. During the year we are leaving behind, Albania turns out to be one of the countries with the largest increase in consumer prices in Europe. Korn ferry forecast puts us in penultimate place in Eastern Europe in terms of lower wage growth over the next year

The forecast is made in the form of a survey on companies operating in different countries of the globe. Compared to last year, the projection seems more pessimistic.

SCAN

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