Workers in Japan saw their cash earnings rise again in May, but real wages fell for the 26th month in a row as price hikes continued to outweigh nominal pay increases.
The labor ministry says inflation-adjusted wages were down 1.4 percent from a year earlier. That marked the longest period of decline since comparable data became available in 1991.
The figures are from a monthly survey of over 30,000 businesses with at least five employees.
Total average pay, including overtime, grew 1.9 percent year-on-year to 297,151 yen, or 1,848 dollars. That marks the 29th straight month of increase.
The ministry said this spring's pay negotiations led to many businesses giving big raises. However, it said soaring prices are still weighing heavily on real wages.
The ministry said it will closely monitor the trend to see when real wages may rebound, adding that some companies are likely to offer pay hikes after June as well.
The labor ministry says inflation-adjusted wages were down 1.4 percent from a year earlier. That marked the longest period of decline since comparable data became available in 1991.
The figures are from a monthly survey of over 30,000 businesses with at least five employees.
Total average pay, including overtime, grew 1.9 percent year-on-year to 297,151 yen, or 1,848 dollars. That marks the 29th straight month of increase.
The ministry said this spring's pay negotiations led to many businesses giving big raises. However, it said soaring prices are still weighing heavily on real wages.
The ministry said it will closely monitor the trend to see when real wages may rebound, adding that some companies are likely to offer pay hikes after June as well.
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Summary
Workers in Japan experienced a rise in cash earnings for May, but real wages declined for the 26th consecutive month due to persistent inflation. Inflation-adjusted wages fell 1.4% year-on-year, marking the longest stretch since 1991. The trend is based on a survey of over 30,000 businesses with
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ID: 67a2fc0f-0fc6-49d1-a886-5f8d4ffddabc
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20240708_16/
Date: July 8, 2024
Created: 2024/07/08 19:00
Updated: 2025/12/08 12:25
Last Read: 2024/07/08 21:36