Japan Real Wages Down 0.9％ in 2022

Jiji Press

10:30 JST, February 8, 2023

TOKYO (Jiji Press) — Japan’s inflation-adjusted real wage index in 2022 fell 0.9% from the previous year, as inflation outpaced growth in nominal wages, the labor ministry said in a preliminary report Tuesday.

The decline followed a 0.6% rise in 2021.

The 2022 average of monthly nominal wages stood at ¥326,157, rising 2.1% on the back of an economic recovery from the COVID-19 pandemic. It was the fastest rise since 1991, when the average jumped 4.4%.

Of the total nominal wages, regular pay including basic salary climbed 1.2%. Overtime and other nonregular pay grew 5.0% and special pay including bonuses increased 5.1%.