06 Dec 2022 --- According to the recent International Labour Organization (ILO) report, a severe inflationary crisis combined with a global slowdown in economic growth – driven in part by the war in Ukraine and the global energy crisis – is reducing the purchasing power of the middle classes and especially hitting low-income households in Europe. With a possible recession on the horizon, PersonalCareInsights looks at indicators of the “lipstick index” at play. “The multiple global crises we are facing have led to a decline in real wages, placing tens of millions of workers in a dire situation as they face increasing uncertainties,” says Gilbert F. Houngbo, Director-General at ILO.
