TOKYO, Jun 05 (News On Japan) – Nominal wages received by Japanese workers in April rose 2.1% compared to the same period last year, but real wages, which are responsible for price changes, fell 0.7%. This marks the 25th consecutive month of decline in real wages, the longest on record.
According to the Monthly Labor Survey of the Ministry of Health, Labor and Welfare, the total cash income received by workers in April averaged 296,884 yen, an increase of 2.1% compared to the same month last year, marking the 28th consecutive month of growth .
Of these, average planned cash earnings, which refer to base salary, were 264,503 yen, up 2.3%, the highest growth rate since October 1994.
Meanwhile, the consumer price index rose 2.9% compared to the same month last year, faster than growth in total cash income, resulting in a 0.7% decline in real wages.
The decline in real wages has continued for 25 consecutive months, the longest period since comparable data became available in 1991.
The ministry said: “The impact of the spring wage negotiations is clear to some extent, but wage increases are still lagging behind rising prices.”
Source: ANN
