Average Wages in Japan Hit Record High of 318,300 Yen Last Year

Jan 25, 2024 | News On Japan

TOKYO - The Ministry of Health, Labour and Welfare revealed that the average wage for full-time workers, including those in non-regular employment, reached a record high for the second consecutive year, amounting to 318,300 yen last year.

The preliminary figures from the ministry's annual survey, which aims to capture the wage realities across different ages and industries, were published on January 24th. This survey involves more than 78,000 businesses nationwide and is conducted yearly.

According to the survey, the average wage for full-time workers, including non-regular employees, was 318,300 yen in June of last year, marking a record high for the second year in a row. The growth rate from the previous year was 2.1%, the highest level in approximately 30 years. The increase in wages was particularly notable among younger age groups, with a 1.7% increase for those aged 55 to 59, compared to 2.7% for those aged 20 to 24, and 2.8% for those aged 25 to 29.

By industry, the electric power, gas, heat supply, and water industries boasted the highest average wages at 412,000 yen, followed by academic research, professional and technical services at 397,500 yen, and finance and insurance at 393,400 yen.

Typically, the Ministry of Health, Labour and Welfare publishes the survey results in March, but due to heightened interest in wages, this year marks the first time the publication has been moved forward. The ministry commented on the findings, "The increase in wages can be considered a result of the economic recovery from the pandemic and the growing momentum for wage increases. Companies should take this situation into account when considering wage hikes."

The government has been encouraging businesses to raise wages to support economic growth and improve the standard of living for workers. The trend in wage increases is also seen as a positive sign for Japan's economy, suggesting a potential increase in consumer spending, which could further drive economic recovery. The ministry's early release of the data underscores the importance of timely and relevant wage information in shaping economic policies and business decisions.

Source: NHK

Record Rain Triggers Level 5 Warning in Fukui

Record rainfall caused 19 rivers to overflow across Fukui Prefecture, flooding roads and homes, triggering landslides and temporarily forcing authorities to issue the highest-level heavy rain emergency warning from early Sunday morning.

Drones Deliver Supplies to Residents Cut Off by Landslide

Drones were used to deliver food and daily necessities to an isolated mountain community in Himi City, Toyama Prefecture, on August 30 after torrential rain triggered a landslide that cut off road access, while volunteers continued flood recovery work in neighboring Ishikawa Prefecture.

Typhoon No. 23 Overtakes No. 22 East of Japan as Both Head North

Two typhoons east of Japan were moving northward on August 30, with Typhoon No. 23 (Banlan) overtaking Typhoon No. 22 (Artau), although neither storm is expected to have a direct impact on Japan.

Nine-Minute Drone Video Shows Scale of Aeon Mall Damage

A 9-minute, 13-second drone video filmed inside Aeon Mall Kumamoto two days after the deadly explosion has provided a detailed view of the destruction, showing collapsed ceilings, heavy dust and widespread damage that may have affected between one-third and nearly half of the shopping center.

Conditions Ease as Typhoon No. 18 Passes Okinawa

Strong Typhoon No. 18 was moving northwest through the East China Sea on the night of August 26, gradually pulling away from Okinawa and the Amami Islands as lingering rain, strong winds and high waves were expected to ease. As of 9 p.m. on August 26, the typhoon was over waters north-northwest of Kume Island and moving northwest.

MEDIA CHANNELS

MORE Business NEWS

Toyota Targets Autonomous Driving From 2028

Toyota Motor plans to introduce passenger vehicles equipped with advanced automated driving technology from 2028, allowing drivers to travel with almost no manual operation, including taking their hands off the steering wheel on ordinary roads.

Tokyo Consumer Prices Rise 1.8% in August as Inflation Accelerates

Consumer prices in central Tokyo rose 1.8% in August from a year earlier, with the pace of inflation accelerating for a third consecutive month as higher food prices continued to put upward pressure on household costs.

Nikkei Rebounds as IT Shares Rise Before Jackson Hole

Tokyo stocks rose on August 28, with the Nikkei 225 closing at 66,405.56, up 273.58 points, or 0.41%, as information-technology, software, automaker and selected semiconductor-related shares gained after a U.S. technology rally, while investors remained cautious before Federal Reserve Chair Kevin Warsh’s Jackson Hole speech.

Japan's Toy Market Tops 1 Trillion Yen

Japan's toy market continues to expand despite the country's declining number of children, reaching a record 1.1664 trillion yen in fiscal 2025 as manufacturers increasingly target adults and introduce products reflecting social issues ranging from sustainability to investment.

Nikkei Slips as Nvidia Rally Fades Into Profit-Taking

Tokyo stocks slipped on August 27, with the Nikkei 225 closing at 66,131.98, down 130.18 points, as early buying in artificial intelligence and semiconductor-related shares following Nvidia’s strong earnings forecast faded into profit-taking, while the broader TOPIX edged higher for a sixth straight session.

Seven-Eleven Installs Self-Service Shipping Machines

Seven-Eleven Japan and Yamato Transport announced on August 26 that they will introduce self-service shipping machines allowing customers to send parcels without lining up at a staffed checkout counter.

Nikkei Reclaims 66,000 as Nvidia Caution Keeps Trading Thin

Tokyo stocks rose on August 26, with the Nikkei 225 closing at 66,262.16, up 405.73 points, or 0.62%, as investors bought back selected semiconductor and financial shares, although trading was thin ahead of Nvidia’s earnings and uncertainty remained over artificial intelligence valuations, the yen and Bank of Japan policy.

Nikkei Falls as Nvidia Caution Hits Chip Shares

Tokyo stocks fell on August 25, with the Nikkei 225 closing at 64,980.53, down 0.8%, as investors sold semiconductor and electronics shares ahead of Nvidia’s earnings while a weak yen, elevated bond yields and renewed U.S. pressure on Iran kept risk appetite subdued.

< 2 3 4 5 >