Japan’s August real wages rise for second straight month

- Advertisement -


    TOKYO, Oct 8 (Businesshala) - Japan's real wages rose for the
second consecutive month in August, largely due to a base
effect, a welcome sign for the new Prime Minister Fumio Kishida
who has pledged to boost pay            .
    Inflation-adjusted real wages, a barometer of households'
purchasing power, grew 0.2% in August compared with the same
month a year earlier, the labour ministry said on Friday.
    The increase followed a downwardly revised 0.3% gain in the
prior month, while an accelerating uptick in consumer prices due
to energy cost inflation              reduced the growth margin.
    Nominal total cash earnings gained 0.7% in August from a
year earlier, up for the sixth straight month. The gains
reflected drops in August 2020, when real wages shrank 1.4% and
nominal wages shed 1.3%.
    Regular pay - or base salary, which makes up most of total
cash earnings and determines a wage trend - rose for the eighth
straight month, gaining 0.2%.
    Overtime pay, a barometer of strength in corporate activity,
grew 6.5% year-on-year in August. But the pace of growth slowed
from double-digit figures in previous three months, due in part
to smaller statistical base effects from a year earlier, a
government official said. Special payments rose 2.0% in August.
    The following table shows preliminary data for monthly
incomes and numbers of workers in August:

----------------------------------------------------------------
   Payments             (amount)                (yr/yr % change)
 Total cash earnings   274,987 yen ($2,467.36)      +0.7
 -Monthly wage         262,221 yen                  +0.6
  -Regular pay         244,437 yen                  +0.2
  -Overtime pay         17,784 yen                  +6.5
 -Special payments      12,766 yen                  +2.0
----------------------------------------------------------------
 Number of workers      (million)               (yr/yr % change)
 Overall                52.035 mln                  +1.3
 -General employees     35.781 mln                  +0.7
 -Part-time employees   16.255 mln                  +2.3
----------------------------------------------------------------

    The ministry defines "workers" as 1) those who were employed
for more than one month at a company that employed more than
five people, or 2) those who were employed on a daily basis or
had less than a one-month contract but had worked more than 18
days during the two months before the survey was conducted, at a
company that employs more than five people.
    To view the full tables, see the labour ministry's website
at: here

($1 = 111.4500 yen)

 (Reporting by Kantaro Komiya. Editing by Jane Merriman)
  
- Advertisement -

- Advertisement -

.

- Advertisement -

Stay on top - Get the daily news in your inbox

DMCA / Correction Notice

Recent Articles

Related Stories

Stay on top - Get the daily news in your inbox