MNI 5 THINGS: Japan Dec Wage Growth Up; Real Remains Positive

--Japan Dec Average Wages +1.8% Y/Y, 17th Straight Rise; Nov +1.7% 

--Japan Dec Real Average Wages +1.4% Y/Y; Nov +0.8% 

--Japan Dec Base Wages +0.9% Y/Y, 31st Straight Rise 

--Japan Dec Overtime Pay -1.0% Y/Y, 1st Drop in 3 Months 

--Japan Dec Bonuses, Other Special Pay +2.7% Y/Y, Nov +8.7%

     TOKYO (MNI) - Average wage growth in Japan accelerated modestly in December

from the previous month and real wages remained in positive territory,

preliminary data released Friday by the Ministry of Health, Labour and Welfare

showed.

     The key points from the Monthly Labour Survey:

     --Total monthly average cash earnings per regular employee in Japan rose

1.8% on year to Y567,151 in December, a 17th straight year-on-year rise

following a 1.7% gain in November.

     --Some sectors, such as eating out, are raising wages to ensure they

attract the necessary employees, but others are generally cautious about raising

base wages amid uncertainty over the global and domestic economies.

     --In real terms, average wages rose 1.4% on year in December, the second

straight rise following +0.8% in November. The weak trend in recent months was

reversed due to the drop in the cost of living. The total CPI minus imputed

rents rose 0.3% on year in December compared with 1.0% in November.

     --Base wages, the key to a steady recovery in cash earnings, rose 0.9% in

December from a year earlier, the 31st straight year-on-year rise after rising

1.3% in the previous month. Overtime pay fell 1.0% on year in December, the

first y/y drop in three months after rising 0.6% in November.

     --Bonuses and other special pay rose 2.7% from a year ago, the fourth

straight rise following +8.7% in November. This category is seen as a volatile

data series, fluctuating wildly.

--MNI Tokyo Bureau; tel: +81 90-2175-0040; email: hiroshi.inoue@marketnews.com

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

[TOPICS: MAJDS$,MAUDR$,MAUDS$,M$A$$$,M$J$$$,M$U$$$]