Wages Inequality in UK an Uganda Samples †MyAssignmenthelp.com

Question: Discuss about the Wages Inequality in UK an Uganda. Answer: This paper talks about wage level differences in labour markets of UK, a developed country and Uganda, a developing country. It also talks about disparities in their public and private sectors. The developed nations like UK, spend a lot in public sectors and provides its people with free, safe and secured environment in terms of social, economic and political sectors to live in whereas the developing countries like Uganda face an issue regarding the same due to lack of financial stability and low levels of industrialisation. Gini coefficient is an index which measures the level of income disparities among various sections of the economy. The higher the number, the higher is the income disparity which means there is higher inequality. The gini coefficient of UK and Uganda in 2011-15 was 31.7 and 40.42 respectively (UNU Wider, 2018). This gives us a view that the wages in Uganda are more unequal than those of UK. There are lesser disparities among top and lowest wage earners in UK as compared to Uganda. The equality adjusted income index by UNDP report for the year 2014 shows Uganda with 0.31and UK with 0.74 magnitudes (Human Development Report, 2015). It is often the case that as the economy grows, the richer section tends to get richer and the poorer gets poorer. The public sectors are managed and operated by the government with the objective of social development. The private sector on the other hand focuses on profit maximisation and are operated and managed by the private ownership. By 2016-17 the spending made by the UK government was close to 40% as a part of GDP whereas Uganda spent 6-10% as a part of GDP. The salaries in private and public sectors of Uganda are highly diverse whereas the bargaining in terms of public and private sectors is quite rare in UK. The countries that are developed have higher per capita incomes and are more industrialised then the developing ones where primary sector is more prominent. The healthcare facilities, job security and salaries are better in the case of developed countries. References: UNU Wider, 2018, WIID World Income Inequality Database, viewed on 26th February, 2018. Available at: https://www.wider.unu.edu/project/wiid-world-income-inequality-database Human Development Report, 2015, Inequality-adjusted income index, viewed on 26th February, 2018. Available at: https://www.google.com/publicdata/explore?ds=ife8n327iup1s_ctype=bstrail=falsebcs=dnselm=smet_y=indicator_103706scale_y=linind_y=falsemet_x=indicator_137506scale_x=linind_x=falseifdim=countryind=falseicfg#!ctype=bstrail=falsebcs=dnselm=smet_x=indicator_137506scale_x=linind_x=falsemet_y=indicator_71606scale_y=linind_y=falseidim=country:21703:22003ifdim=countryhl=en_USdl=en_USind=false Wynarczyk, P., Watson, R., Storey, D.J., Short, H. and Keasey, K., 2016.Managerial labour markets in small and medium-sized enterprises. Routledge. Wilkinson, F. ed., 2013.The dynamics of labour market segmentation. Elsevier.