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Japan Logs Marked Slowdown in Real Wage Drop in April

Japan Logs Marked Slowdown in Real Wage Drop in April

   Tokyo, June 5 (Jiji Press)--Japan logged a marked slowdown in inflation-adjusted wage declines in April following pay hikes agreed in this year's "shunto" spring wage negotiations, labor ministry data showed Wednesday.
   Year on year, the April real wage index dropped 0.7 pct, the slowest decline since December 2022. In the reporting month, the pace of drop shrank by 1.4 percentage points from the previous month.
   According to the preliminary data, nominal regular pay including basic salary marked the largest increase since October 1994 thanks to the strong shunto results.
   The real wage index, despite the slowdown, kept declining for the 25th consecutive month, longest on record. This shows that inflation continued to outpace nominal wage growth.
   Monthly nominal wages per worker increased 2.1 pct to 296,884 yen on average.

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AFP-JIJI PRESS NEWS JOURNAL


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