The wealth of the 25 richest families in the world soared 43% in the last year

Re:The wealth of the 25 richest families in the world soared... by abdullahkhalids on Friday December 08, 2023 @12:29PM (#38571607)

> I wouldn't be surprised if wages in the parts of the global population that's currently industrializing (parts of China and India) went up by way more than 43% though.

"The average salary increase in India is likely to be 10% in 2023, up from an actual increase of 9.8% in 2022" [1]

China's was in the range 3.7 percent, with salaries now a double of what they were a decade ago [2].

[1] https://economictimes.indiatimes.com/jobs/mid-career/salarie...

[2] https://www.china-briefing.com/news/average-salaries-in-chin...

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Re:The wealth of the 25 richest families in the world soared... by tuatoru on Friday December 08, 2023 @12:49PM (#38571860)

And that's in the formal economy in India, which employs a small fraction of those employed.

I found this mini-documentary by Polymatter[1] interesting. It asserts that Indian firms with ten or more employees are subject to inspections by the Indian labour inspectorate and a bunch of other requirements. For entirely unrelated reasons most Indian firms find 9 to be the optimum number of employees.

1. https://www.youtube.com/watch?v=Lvzn41Lv-O4&t=1s

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Re:The wealth of the 25 richest families in the world soared... by sharadov on Friday December 08, 2023 @01:44PM (#38572621)

And those are corporate jobs - sector like IT which are seeing rapid growth.

I would like to see stats on factory job worker wage growth. No way are they seeing 40% growth!

At the same time, YOY inflation in India is pretty high https://www.statista.com/statistics/271322/inflation-rate-in...

India keeps the majority of the population afloat by big socialist spending - government handouts or there would be riots on the streets!

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