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Japan's real wages drop for 3rd straight month in October

0 Comment(s)Print E-mail Xinhua, December 24, 2024
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TOKYO, Dec. 24 (Xinhua) -- Japan's real wages fell 0.4 percent in October from a year earlier, revised down from no change as was initially reported, marking the third consecutive month of decline, government data showed Tuesday.

Inflation-adjusted real wages at workplaces with five or more employees, a barometer of consumer purchasing power, remained negative in October, as government subsidies for utility bills failed to offset rising living costs, the Ministry of Health, Labor and Welfare said.

Nominal wages, the average total monthly cash earnings per worker, including base and overtime pay, rose 2.2 percent to 292,430 yen (about 1,860 U.S. dollars), revised down from a 2.6 percent gain.

The country's real wages fell for the 26th straight month in May, weighed down by surging prices on a weak yen. And they slipped back into negative territory in August after two months of increases during the summer bonus season. Enditem

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