TOKYOJul 8 (News On Japan) – Real wages per worker, which reflect changes in the cost of living, fell for a record 26 straight months, data from May showed.
The Ministry of Health, Labor and Welfare said total cash earnings per employee in May, including basic wages, overtime and bonuses, were 297,151 yen, up 1.9% from the same month last year and marking the 29th consecutive month of rising wages.
The fixed salary, which mainly focuses on the basic salary, was 263,539 yen in May, up 2.5% from the previous year. This is the highest growth in 31 years and four months.
However, real wages, which take inflation into account, fell by 1.4% compared with the same month last year, marking the 26th consecutive month of decline. This is the longest period of continuous decline since comparable statistics became available in 1991.
The ministry noted: ‘Despite the significant wage increases observed this spring in the context of the labor offensive, these have not kept pace with rising prices.’
Source: TBS
