Japan's real wages down for 20th month

Jan 10, 2024 | News On Japan

TOKYO - Real wages for wokers in Japan decreased by 3% last November year-on-year, marking a continuous decline for 20 months.

While cash earnings have seen a continuous increase for 23 months, matching the longest record in history, the increase in wages has not kept up with the rise in prices.

The Ministry of Health, Labour and Welfare conducts the "Monthly Labour Statistics Survey" targeting over 30,000 business establishments with five or more employees nationwide. The preliminary figures for November of last year have been released, showing that real wages, adjusted for price fluctuations, decreased by 3% compared to the same month of the previous year. This is the 20th consecutive month of negative real wage growth. The total amount of cash earnings, including basic salary and overtime pay, averaged 287,741 yen per person, a 0.2% increase from November of the previous year, continuing the positive trend for 23 months in a row. This 23-month streak of positive cash earnings is the longest since the period from January 1991 to November of the following year.

The Ministry of Health, Labour and Welfare notes, "The continuation of positive cash earnings is the first in 31 years, and the momentum for wage increases, such as the impact of the spring wage offensive, continues to be strong. However, with the high level of price increases persisting and the continuation of negative real wages, we want to keep a close eye on the price situation going forward."

Japan Introduces Stricter Penalties for Drunk Driving

Japan began applying a new numerical alcohol threshold for dangerous driving offenses on July 21, introducing a clearer standard for cases involving impaired driving that could lead to fatal accidents.

Japan Sets Investment Strategy

Prime Minister Sanae Takaichi's government approved its first annual basic economic and fiscal policy on Tuesday, pledging "responsible and proactive fiscal policy" and envisioning about 370 trillion yen in public- and private-sector investment in strategic industries through fiscal 2040.

Japan Scrambles for Oil

A covert network of shuttle tankers is carrying crude through the increasingly dangerous Strait of Hormuz as renewed fighting between the United States and Iran disrupts shipping and raises concerns over how Japan will secure the oil it needs.

Russia Calls Japan-Ukraine Drone Cooperation a Clear Hostile Act

Russian Deputy Foreign Minister Andrey Rudenko has criticized moves by Japanese and Ukrainian companies to cooperate on drone technology, warning that such ties would be regarded by Moscow as a "clear hostile act."

Rainy Season Ends in Kanto-Koshin

The rainy season ended in the Kanto-Koshin and Tokai regions on July 20 as strengthening high pressure brought intense heat across Japan, with temperatures forecast to reach 38 C in Kumagaya, Saitama Prefecture, and Kofu.

MEDIA CHANNELS

MORE Business NEWS

Nikkei Rebounds as Bargain Hunters Return to AI Shares

Tokyo stocks rebounded sharply on July 21 as investors bought back semiconductor and artificial intelligence-related shares after last week’s steep selloff, while attention shifted to upcoming U.S. technology earnings and the government’s new economic policy roadmap.

Oil Surge Tests Tokyo Markets on Marine Day Holiday

Japanese cash equities were closed for Marine Day on July 20, leaving investors to assess whether Tokyo can stabilize after last week’s technology-led rout as oil prices rose above $90 a barrel, the yen remained near four-decade lows and global markets braced for another test of the artificial intelligence trade.

Apple Hikes iPhone Prices in Japan

Apple has raised prices for iPhones sold in Japan, with the top-end iPhone 17 Pro Max now costing more than 210,000 yen, as the prolonged weakness of the yen increases the local cost of products priced and managed in US dollars.

Mexican Crude Oil Arrives in Japan After 70-Day Voyage

A tanker carrying about 1 million barrels of Mexican crude oil arrived off Yokkaichi, Mie Prefecture, on the morning of July 17, marking Japan's first such delivery since the Strait of Hormuz was effectively closed.

Nikkei Enters Correction as Chip Rout Deepens

Tokyo stocks plunged on July 17 as a global selloff in semiconductor and artificial intelligence-related shares pushed the Nikkei 225 into correction territory, while Middle East tensions, higher oil prices and persistent yen weakness added to pressure on investors.

Nissan Unveils First New Elgrand in 16 Years

Nissan Motor unveiled a fully redesigned Elgrand minivan on July 17, marking the model's first complete overhaul in 16 years, while introducing a new brand message as the automaker seeks to rebuild its business and revive sales.

Japan 7/11 Plans Major Polish Takeover

Seven & i Holdings is considering investing several hundred billion yen in Zabka Group, Poland's largest convenience store operator, as the Japanese retailer seeks to expand its presence in Europe.

Japanese Firms Increase Focus on Automation and AI

Japanese manufacturers including Fanuc, Yaskawa Electric, Fujitsu, Hitachi, Kawasaki Heavy Industries and Komatsu announced new artificial intelligence initiatives on July 16 as Nvidia expanded its partnerships with Japan's robotics and industrial sectors.

< 2 3 4 5 >