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MNI BRIEF: Japan May Wages Up, But Real Pay Stays Negative

(MNI) Tokyo
TOKYO (MNI)

The recent BOJ opinions cited wage hikes as key for policy.

Average wages in Japan rose 1.2% y/y in May, though real wages fell 1.8%, preliminary data released on Tuesday by the Ministry of Health, Labour and Welfare showed.

Total monthly average cash earnings per regular employee rose 1.0% y/y in May after a 1.3% gain in April. Overtime pay rose 5.5% y/y in May, while bonuses and other special pay fell 7.0% y/y, the first drop in five months, (See: MNI BRIEF: BOJ Opinions: Must Watch Price Impacts, Wage Hikes).

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Average wages in Japan rose 1.2% y/y in May, though real wages fell 1.8%, preliminary data released on Tuesday by the Ministry of Health, Labour and Welfare showed.

Total monthly average cash earnings per regular employee rose 1.0% y/y in May after a 1.3% gain in April. Overtime pay rose 5.5% y/y in May, while bonuses and other special pay fell 7.0% y/y, the first drop in five months, (See: MNI BRIEF: BOJ Opinions: Must Watch Price Impacts, Wage Hikes).