Japan Real Wages Down 2.5 Pct in July
Tokyo, Sept. 8 (Jiji Press)--Japan's inflation-adjusted real wage index in July fell 2.5 pct from a year before as nominal wages continued to underperform price hikes, according to preliminary data released by the labor ministry Friday.
The real wage index marked the 16th straight month of decline.
Nominal wages rose by 1.3 pct to 380,656 yen per worker. Regular pay including basic salary increased 1.6 pct, and overtime and other nonregular pay grew 0.5 pct. Special pay including bonuses rose 0.6 pct.
But the consumer price index excluding imputed rent, used to calculate the real wage index, grew by a larger 3.9 pct, reflecting higher prices for food including eggs and domestic pork and for accommodation services and other things.
The average nominal wage for full-time workers rose 1.7 pct to 508,283 yen, and that for part-timers gained 1.7 pct to 107,704 yen.
(2023/09/08-09:27)
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