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--Japan Mar Average Wages -1.9% Y/Y, 3rd Straight Drop; Feb -0.7% 
--Japan Mar Real Average Wages -2.5% Y/Y; Feb -1.0% 
--Japan Mar Base Wages -0.9% Y/Y, 3rd Straight Drop 
--Japan Mar Overtime Pay -3.1% Y/Y, 4th Straight Drop 
--Japan Mar Bonuses, Other Special Pay -12.4% Y/Y, Feb -31.4%
     TOKYO (MNI) - Average wages fell 1.9% on year in March, the third straight
year-on-year drop following a 0.7% decline in February, with real wages also in
negative territory, preliminary data released Friday by the Ministry of Health,
Labour and Welfare showed.
     The key points from the Monthly Labour Survey:
     --Total monthly average cash earnings per regular employee in Japan fell
1.9% on year to Y279,922 in March, the third straight year-on-year drop
following a 0.7% fall in February.
     --In real terms, average wages fell 2.5% on year in March, the third
straight drop following a 1.0% fall in February. The total CPI minus imputed
rents rose 0.6% on year in March, up from +0.2% in February.
     --Base wages, the key to a steady recovery in cash earnings, fell 0.9% in
March from a year earlier, the third straight year-on-year drop after falling
0.1% in the previous month. Overtime pay fell 3.1% on year in March, the fourth
straight y/y drop after falling 0.2% in February.
     --Total monthly average cash earnings per regular employee in fiscal 2018
rose 1.4% on year, marking the sixth straight rise after a 0.4% gain in fiscal
2017.
     --In real terms, average wages rose 0.2% on year in fiscal 2018, the first
rise in two years following a fall of 0.2% in fiscal 2017.
--MNI Tokyo Bureau; tel: +81 90-2175-0040; email: hiroshi.inoue@marketnews.com
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
[TOPICS: MAJDS$,MMJBJ$,M$A$$$,M$J$$$]