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MNI DATA BRIEF: Japan April Wages Up; Real Pay Positive

--Japan Apr Average Wages +1.6% Y/Y; 2nd Straight Rise

--Japan Apr Real Average Wages +2.1% Y/Y; 3rd Straight Rise

MNI (Sydney)
TOKYO (MNI)

Average wages in Japan rose 1.6% y/y in April, recording the second straight rise following +0.6% in March.

Real wages remained in positive territory, up 2.1% in April, according to preliminary data released Tuesday by the Ministry of Health and Labour.

In real terms, average wages rose 2.1% y/y in April, the third straight rise following a 0.8% rise in March. Total CPI minus impute rents fell 0.5% y/y in April after falling 0.2% in March.

Base wages, the key to a steady recovery in cash earnings, rose 0.9% y/y in April after rising 1.0% in March for the fourth straight rise.

Overtime pay rose 6.4% y/y in April, reversing from -5.0% previously.

The rise was mainly due to an increase in overtime working hours (+13.3% y/y in April vs. -1.9% in March) amid a recovery in economic activities in manufacturing.

Bonuses and other special pay rose 8.5% y/y in April, for the third straight rise following March's 0.6% rise.

MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
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MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
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