The line chart illustrates changes in the rate of wage growth in Somecountry over the period from 1993 to 2003.
Overall, the wage growth rate fluctuated considerably throughout the decade. It rose to a peak in 1998 before declining in the following years and ending with a slight recovery in 2003.
At the start of the period, wage growth stood at 2% in 1993. This figure then doubled to 4% in 1994 before falling to 3% in 1995. The rate remained unchanged for the next year and subsequently increased gradually, reaching just below 4% by 1997. In 1998, wage growth climbed sharply to 6%, which was the highest level recorded during the timeframe.
Following this peak, the rate generally trended downward. In 1999, it fell to under 3% and stayed at around that level until 2000. Wage growth continued to decline thereafter, hitting a low of 1% in 2002. However, the figure recovered modestly in the final year, rising to just under 2% in 2003.
