Free Trial

MNI DATA IMPACT: Japan July Wages Up; Real Pay Turns Positive

TOKYO (MNI)

Average wages rose 0.4% y/y in July, recording the seventh straight gain following an upward revised +0.2% in June, and real wages turned positive, up 0.7% in July, preliminary data released on Tuesday by the Ministry of Health, Labour and Welfare showed.

Base wages, seen as key for recovery in cash earnings, rose 0.4% y/y in July, but revised down slightly to +0.2% in June.

Total monthly average cash earnings per regular employee rose 1.0% y/y to JPY372,757 in July, for the first rise in two months. In real terms, average wages rose 0.7% y/y in July. Total CPI minus imputed rents rose 0.2% y/y in July.

Overtime pay rose 12.2% y/y in July but slowed from a slightly downward revised +18.0% jump in June on the base effect. Bonuses and other special pay rose 0.8% y/y in July.

MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com
MNI Tokyo Bureau | +81 90-2175-0040 | hiroshi.inoue@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.