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Japan Real Wages: 24 Months of Decline Raises Concerns

There was a 0.6% increase in nominal monthly earnings, including base pay and overtime, from a year ago to 301,193 yen (about 1,932.5 dollars).

By Newsd
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Japan Real Wages

Japan Real Wages: On Thursday, official statistics showed Japan’s average monthly wages declined for the 24th consecutive month in inflation-adjusted terms, marking the longest period since comparable statistics began in 1991.

The Ministry of Health, Labor and Welfare reported that inflation-adjusted real wages fell 2.5 percent from the same month last year, larger than the 1.8 percent drop in February.

There was a 0.6% increase in nominal monthly earnings, including base pay and overtime, from a year ago to 301,193 yen (about 1,932.5 dollars).

In March, regular wages including basic salaries rose 1.7%, while overtime pay, a measure of business activity, fell 1.5%. Special payments including bonuses declined 9.3%.

Preliminary data showed that the consumer price index excluding imputed rent, used to calculate the real wage index, grew by 3.1 percent.

Due to historically high prices and real wages falling for the past two years, people’s lives are becoming more tight, and the recovery of personal consumption spending may take longer than expected.

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