Real wages in Japan fall 1.3% in July
11:49 JST, September 7, 2022
TOKYO (Jiji Press) — Japan’s inflation-adjusted real wage index in July dropped 1.3% from a year before, down for the fourth consecutive month, the labor ministry said in a preliminary report Tuesday.
The decline came as inflation in the country outpaced growth in nominal wages.
The consumer price index excluding imputed rents, used to calculate the real wage index, grew 3.1% in the reporting month. The pace of rise in the price index topped nominal wage growth for the fourth consecutive month.
The average total nominal wage was up 1.8% year on year at ¥377,809 per worker in July, up for seven months in a row, according to the labor survey report.
Of the total, regular pay, including basic salary, rose 1.2%, and overtime and other nonregular pay climbed 4.7%. Special pay, including bonuses, was up 2.8%.
Total nominal wages for full-time workers averaged ¥500,828, up 1.7%, and the average wage for part-time workers grew 3.0% to ¥106,167.
"Business" POPULAR ARTICLE
-
Aviation Fuel Shortage Causes Problems at Regional Airports; Growing Demand, Lack of Workers to Transport
-
Prices of over 10,000 Food and Beverage Items to Rise This Year; Figure is down from over 30,000 Last Year
-
Sony Group to End Production of Blu-ray Discs; Market Has Shrunk Due To Growth Of Hard Disk Drives, Streaming
-
AI-Equipped Energy Efficient Air Conditioners Grow In Popularity; Some Can Guess Users’ Moods, Automatically Adjust Temperature
-
Toyota to Introduce 4-Day Workweek for Some Employees; Company Hopes More Flexible Schedules Will Boost Worker Motivation
JN ACCESS RANKING