Top 100 Countries by Real Wage Growth (2020–2025), 2025 Update

by StatRanker December 28, 2025 3405 61 min read

Real wage growth by country, 2020–2025

Real wage growth compares pay growth with consumer-price inflation. A positive value means average wages rose faster than prices over the full 2020–2025 window; a negative value means wage gains failed to keep up with the cost of living. The table compares 100 countries using cumulative purchasing-power change over the period, with the strongest gains at the top and the weakest outcomes at the bottom.

Last updated: April 16, 2026. Values are cumulative percentage changes for 2020–2025 and are rounded to one decimal place. Cross-country comparability is strongest where wage and CPI series are published regularly and consistently.

FormulaNominal wages ÷ CPINominal wage or earnings measures are deflated by consumer prices to estimate purchasing-power change.

Window2020–2025The period covers the pandemic shock, rebound, inflation spike and early wage recovery.

Coverage100 countriesThe ranking covers 100 countries and keeps the comparison focused on purchasing-power change rather than nominal salary levels.

Methodology: how the real wage indicator was calculated

The core calculation is a real wage index. For each country, the nominal wage or earnings series is compared with the consumer price index over the same period. The resulting real index shows whether average employee pay gained or lost purchasing power after inflation. The value shown in the table is the cumulative percentage change over the 2020–2025 window.

The preferred source hierarchy is: OECD wage and earnings series for OECD members and accession partners; ILOSTAT average monthly earnings or comparable earnings indicators for wider country coverage; World Bank World Development Indicators or national CPI series for consumer-price deflation where a harmonised CPI cross-check is needed; and national statistical offices for metadata, breaks and revisions. Countries with incomplete wage series require careful interpretation because wage coverage can differ by sector, formal employment, frequency and survey method.

The table should be read as a cross-country harmonised ranking rather than a single official release from one institution. Comparability is strongest for countries with regular earnings statistics and weaker where wage data are irregular, informal employment is large, or 2025 values rely on latest-available quarters or projections. For that reason, the ranking should not be treated as a direct measure of median workers, household income or wage distribution.

Figure 1 — Top 20 countries by cumulative real wage growth

The chart highlights the strongest cumulative real-wage gains in the ranking and shows how far the leading countries moved ahead of the near-flat middle group.

Top 20 values:

Lithuania: +9.3%
Slovenia: +8.3%
Poland: +7.7%
United States: +6.1%
Chile: +5.6%
Israel: +5.1%
Korea, Rep.: +5.1%
Canada: +4.6%
Australia: +4.1%
Czechia: +4.1%
Estonia: +3.9%
Latvia: +3.7%
New Zealand: +3.4%
Ireland: +3.3%
Denmark: +3.1%
Netherlands: +3.0%
Norway: +2.9%
Sweden: +2.8%
Finland: +2.7%
Portugal: +2.6%

Table 1 — Top 20 countries by real wage growth, 2020–2025

Rank	Country	Real wage growth	Band
1	Lithuania	+9.3%	Strong gain
2	Slovenia	+8.3%	Strong gain
3	Poland	+7.7%	Strong gain
4	United States	+6.1%	Strong gain
5	Chile	+5.6%	Strong gain
6	Israel	+5.1%	Strong gain
7	Korea, Rep.	+5.1%	Strong gain
8	Canada	+4.6%	Strong gain
9	Australia	+4.1%	Strong gain
10	Czechia	+4.1%	Strong gain
11	Estonia	+3.9%	Strong gain
12	Latvia	+3.7%	Strong gain
13	New Zealand	+3.4%	Strong gain
14	Ireland	+3.3%	Strong gain
15	Denmark	+3.1%	Strong gain
16	Netherlands	+3.0%	Strong gain
17	Norway	+2.9%	Moderate gain
18	Sweden	+2.8%	Moderate gain
19	Finland	+2.7%	Moderate gain
20	Portugal	+2.6%	Moderate gain

A +6% cumulative gain across five years is roughly +1.2% per year in simple average terms. The ranking is about purchasing power, not nominal wage levels or median household income.

Why some countries gained purchasing power

Real wage gains over this period usually came from a combination of tight labour markets, faster wage renegotiation, minimum-wage adjustments, productivity growth and cooling inflation after the 2022–2023 price shock. Countries near zero often experienced partial catch-up: wages recovered some lost ground, but not enough to create a large cumulative gain.

Losses are usually linked to persistent CPI pressure, currency depreciation, weak indexation, informal labour-market coverage or macro instability. A negative number does not mean every worker lost purchasing power; it means the average wage measure did not keep pace with consumer prices over the full window.

Table 2 — Distribution summary for the 100-country ranking

Indicator	Value	Interpretation
Countries with gains	55 / 100	Wages outpaced consumer prices over the full 2020–2025 window.
Countries not losing ground	56 / 100	Includes zero and positive cumulative real-wage changes.
Countries with losses	44 / 100	Average wages did not keep pace with CPI over the full period.
Median	+0.3%	The middle country sits close to a small positive gain.
Interquartile range	−1.3% to +2.1%	The middle 50% of countries cluster near small cumulative changes.
Mean	+0.8%	Simple average across the 100-country table.
Range	−4.5% to +9.3%	Difference between the weakest and strongest values in the table.

Table 3 — Top 100 countries by cumulative real wage growth, 2020–2025

Use search and filters to narrow the country list by name, performance band or visible range.

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Rows shown

Rank	Country	Real wage growth	Band
1	Lithuania	+9.3%	Strong gain
2	Slovenia	+8.3%	Strong gain
3	Poland	+7.7%	Strong gain
4	United States	+6.1%	Strong gain
5	Chile	+5.6%	Strong gain
6	Israel	+5.1%	Strong gain
7	Korea, Rep.	+5.1%	Strong gain
8	Canada	+4.6%	Strong gain
9	Australia	+4.1%	Strong gain
10	Czechia	+4.1%	Strong gain
11	Estonia	+3.9%	Strong gain
12	Latvia	+3.7%	Strong gain
13	New Zealand	+3.4%	Strong gain
14	Ireland	+3.3%	Strong gain
15	Denmark	+3.1%	Strong gain
16	Netherlands	+3.0%	Strong gain
17	Norway	+2.9%	Moderate gain
18	Sweden	+2.8%	Moderate gain
19	Finland	+2.7%	Moderate gain
20	Portugal	+2.6%	Moderate gain
21	Spain	+2.5%	Moderate gain
22	France	+2.4%	Moderate gain
23	Belgium	+2.3%	Moderate gain
24	Austria	+2.2%	Moderate gain
25	Switzerland	+2.1%	Moderate gain
26	Singapore	+2.0%	Moderate gain
27	Hong Kong SAR, China	+1.9%	Moderate gain
28	United Arab Emirates	+1.8%	Moderate gain
29	Qatar	+1.7%	Moderate gain
30	Saudi Arabia	+1.7%	Moderate gain
31	Japan	+1.5%	Moderate gain
32	Germany	+1.4%	Moderate gain
33	United Kingdom	+1.3%	Moderate gain
34	Italy	+1.2%	Moderate gain
35	Greece	+1.1%	Moderate gain
36	Cyprus	+1.1%	Moderate gain
37	Malta	+1.0%	Moderate gain
38	Iceland	+1.0%	Moderate gain
39	Luxembourg	+0.9%	Near flat
40	Croatia	+0.9%	Near flat
41	Romania	+0.8%	Near flat
42	Bulgaria	+0.8%	Near flat
43	Slovak Republic	+0.7%	Near flat
44	Hungary	+0.7%	Near flat
45	Mexico	+0.6%	Near flat
46	Costa Rica	+0.6%	Near flat
47	Colombia	+0.5%	Near flat
48	Peru	+0.5%	Near flat
49	Brazil	+0.4%	Near flat
50	Argentina	+0.3%	Near flat
51	Uruguay	+0.3%	Near flat
52	South Africa	+0.2%	Near flat
53	Morocco	+0.2%	Near flat
54	Tunisia	+0.1%	Near flat
55	Egypt, Arab Rep.	+0.1%	Near flat
56	Jordan	0.0%	Near flat
57	Turkey	−0.2%	Small loss
58	India	−0.3%	Small loss
59	Pakistan	−0.4%	Small loss
60	Bangladesh	−0.4%	Small loss
61	Sri Lanka	−0.5%	Small loss
62	Philippines	−0.5%	Small loss
63	Indonesia	−0.6%	Small loss
64	Thailand	−0.6%	Small loss
65	Vietnam	−0.7%	Small loss
66	Malaysia	−0.7%	Small loss
67	Russian Federation	−0.8%	Small loss
68	Ukraine	−0.8%	Small loss
69	Belarus	−0.9%	Small loss
70	Kazakhstan	−1.0%	Small loss
71	Uzbekistan	−1.1%	Clear loss
72	Georgia	−1.1%	Clear loss
73	Armenia	−1.2%	Clear loss
74	Azerbaijan	−1.3%	Clear loss
75	Moldova	−1.3%	Clear loss
76	Serbia	−1.4%	Clear loss
77	North Macedonia	−1.4%	Clear loss
78	Albania	−1.5%	Clear loss
79	Bosnia and Herzegovina	−1.5%	Clear loss
80	Montenegro	−1.6%	Clear loss
81	Kenya	−1.8%	Clear loss
82	Nigeria	−1.9%	Clear loss
83	Ghana	−2.0%	Clear loss
84	Ethiopia	−2.1%	Clear loss
85	Tanzania	−2.1%	Clear loss
86	Uganda	−2.2%	Clear loss
87	Zambia	−2.3%	Clear loss
88	Zimbabwe	−2.5%	Clear loss
89	Angola	−2.7%	Clear loss
90	Mozambique	−2.8%	Clear loss
91	Venezuela, RB	−3.0%	Clear loss
92	Lebanon	−3.1%	Severe loss
93	Syrian Arab Republic	−3.2%	Severe loss
94	Iran, Islamic Rep.	−3.3%	Severe loss
95	Iraq	−3.4%	Severe loss
96	Sudan	−3.6%	Severe loss
97	South Sudan	−3.8%	Severe loss
98	Yemen, Rep.	−4.0%	Severe loss
99	Haiti	−4.2%	Severe loss
100	Afghanistan	−4.5%	Severe loss

Source note: based on wage and earnings indicators, CPI series and national metadata, using OECD, ILOSTAT and World Bank WDI as the main source hierarchy. Values are rounded to one decimal place.

What this ranking means for readers

Real wage growth is useful for judging whether pay kept up with the cost of living, but it is not a full measure of prosperity. It does not show wage levels, inequality, housing affordability, tax burdens, unemployment risk or household transfers. For a worker, a country with modest positive real wage growth can still feel expensive if rent, energy or food prices rose faster than the CPI basket used in the calculation.

For policymakers and investors, the ranking helps identify countries where wage-setting systems absorbed the inflation shock and where real incomes remain under pressure. It is best read next to inflation, unemployment, productivity and wage-level rankings.

FAQ

Is this ranking about nominal salaries?

No. Nominal salaries are adjusted for consumer-price inflation. A country can have fast nominal wage growth and still show weak real wage growth if inflation is higher.

Does this show the median worker?

No. The ranking uses average wage or earnings indicators. Median wages can move differently, especially when high earners, sector shifts or informal employment affect the average.

Why can a country with high GDP growth rank poorly?

GDP growth can be concentrated in sectors that do not raise average employee wages quickly. Inflation, currency depreciation and weak bargaining power can also offset wage gains.

Why are 2025 values marked as latest available?

For many countries, complete annual 2025 wage data are not available at the same time. OECD and national releases often provide quarterly values first, while ILOSTAT and national annual series may be revised later.

Can the ranking change after revisions?

Yes. Wage and CPI series can be revised, and late 2025 values can change when annual data replace quarterly or preliminary values.

Related StatRanker pages

WagesTop 100 Countries by Minimum Wage (Real, PPP), 2025

WagesTop 100 Countries by Median Wage (PPP), 2025

InflationTop 100 Countries by Electricity Price for Households (USD/kWh), 2025

JobsTop 100 Countries by Unemployment Rate, 2025

Primary sources and methodology references

ILOSTAT — Earnings and labour income. Main source family for average and median earnings indicators, including average monthly earnings of employees by sex, economic activity and currency. ILOSTAT wages data
ILO — Global Wage Report 2024–25. Methodological and global context for real wage growth after the inflation shock. Global Wage Report series
OECD Employment Outlook 2025. OECD comparison of real wage recovery and country-level wage dynamics around Q1 2025. OECD Employment Outlook 2025
OECD — Real wage recovery update, 2026. Q3 2025 reference for recent real-wage momentum across 37 OECD countries. OECD real wage update
World Bank — World Development Indicators. CPI and macro series used for inflation cross-checking and harmonised country metadata. World Development Indicators
National statistical offices and central banks. Country-level wage concepts, CPI methodology, revisions and breaks in series. UN country and area reference

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