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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.

Policy StoryDataPolicyFiscalGovernment sectorAPACJapanData BriefCentral BankData StoriesBank of JapanBriefStoryRegionBank of Japan (BOJ) Market News

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).