MNI 5 THINGS: Japan Sep Wage Gain Quickens;Real Stays Negative

--Sep Average Wage +1.1% Y/y, 14th Month of Increase; Aug +0.8% 

--Sep Real Average Wage -0.4% Y/Y; Aug -0.7% 

--Sep Base Wage +0.8% Y/Y, 18th Straight Rise 

--Sep Overtime Pay +0.4% Y/Y, 11th Increase

--Sep Bonuses, Other Special Pay +13.3% Y/y, Aug -8.2%

     TOKYO (MNI) - The average wage growth in Japan accelerated in September

from the previous month due to larger bonuses and other special pay, according

to preliminary data released Wednesday by the Ministry of Health, Labour and

Welfare.

     The key points from the Monthly Labour Survey are:

     --Total monthly average cash earnings per regular employee rose 1.1% on

year to Y270,256, the 14th straight yearly gain after 0.8% in August and 1.6% in

July.

     --The ministry left its long-held assessment unchanged, repeating wages

have been increasing "moderately." Companies are generally cautious about

raising base wages amid uncertainty over economic prospect. Some sectors are

raising wages to help alleviate labor shortages.

     --Adjusted for inflation, the real average wage fell 0.4% on year in

September, following 0.7% drop in August. The recent weak trend comes on the

back of the rising cost of living. The total CPI minus imputed rent rose 1.4% on

year in September after +1.5% in August.

     --Base wage, the key to a steady recovery in cash earnings, rose 0.8% in

September from a year earlier, the 18th month of gain following  1.4% in August.

Overtime pay rose 0.4% on year, the 11th month of gain after August's 1.3%.

     --Bonuses and other special pay rose 13.2% from a year ago following -8.2%

in August and +2.8% in July. This category is seen as a volatile data series

with wide fluctuations.

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

--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com

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