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MNI BRIEF: Japan Aug Wages Rise; Real Pay Falls For 5th Month

(MNI) Tokyo
MNI (TOKYO)

The Bank of Japan received a boost in its push for wage hikes as average nominal wages growth accelerated in August, though rising inflation pushed real wages down for a fifth consecutive month, according to data released Friday by the Ministry of Health, Labour and Welfare.

Average wages rose 1.6% y/y in August after rising 0.9% in July, with total monthly average cash earnings per regular employee increasing 1.7% y/y in August compared to 1.3% y/y growth in July.

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The Bank of Japan received a boost in its push for wage hikes as average nominal wages growth accelerated in August, though rising inflation pushed real wages down for a fifth consecutive month, according to data released Friday by the Ministry of Health, Labour and Welfare.

Average wages rose 1.6% y/y in August after rising 0.9% in July, with total monthly average cash earnings per regular employee increasing 1.7% y/y in August compared to 1.3% y/y growth in July.

Keep reading...Show less