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Wages in Japan Log 1st Rise in 3 Yrs in FY 2021

Wages in Japan Log 1st Rise in 3 Yrs in FY 2021

   Tokyo, May 24 (Jiji Press)--Wages in Japan rose for the first time in three years in fiscal 2021, but failed to recover to pre-pandemic levels, revised data from the labor ministry showed Tuesday.
   The monthly average of nominal wages in the year that ended in March rose 0.7 pct from the previous year to 320,604 yen. Overtime jumped after economic activity was restricted substantially in fiscal 2020 due to the COVID-19 pandemic.
   Price-adjusted real wages rose 0.5 pct, up for the first time in five years. Nominal wages grew faster than the consumer price index excluding imputed rent, used to calculate real wages.
   The monthly average regular pay, including basic salary, climbed 0.4 pct, while nonregular pay, including overtime, surged 7.1 pct.
   Total wages increased 1.0 pct on average for full-time workers, including regular employees, and 0.9 pct for part-timers.

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AFP-JIJI PRESS NEWS JOURNAL


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