Japan Real Wages Fall 0.2 Pct in 2024
Tokyo, Feb. 5 (Jiji Press)--Japan's inflation-adjusted real wage index in 2024 fell 0.2 pct from the previous year, down for the third straight year, the labor ministry said in a preliminary report Wednesday.
Although the pace of decline slowed from a fall of 2.5 pct in 2023, inflation continued to outpace wage growth.
The overall data covered businesses with five or more employees.
For businesses with 30 or more employees, the real wage index increased 0.1 pct, up for the first time in two years, reflecting the largest pay hike in 33 years agreed in last year's "shunto" spring pay talks.
Whether the momentum for wage increases seen at large firms will spread to smaller businesses is widely seen as key to achieving the Japanese government's goal of wage increases that outpace price rises.
(2025/02/05-10:42)
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