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--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
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.
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