Japan real wages log biggest drop since 2015

Jiji Press

16:50 JST, December 6, 2022

TOKYO (Jiji Press) — Japan’s inflation-adjusted real wage index in October fell 2.6% from a year before, the biggest drop since June 2015, the labor ministry said in a preliminary report Tuesday.

The index slid for the seventh straight month as higher consumer prices, including electricity and gas costs and restaurant menu prices, outpaced increases in nominal wages.

Total nominal wages per worker rose 1.8% to ¥275,888 on average, up for the 10th consecutive month.

Of the total, regular pay, including basic salaries, increased 1.3%, and overtime and other nonregular pay climbed 7.9%.