Real Wages in Japan Drop by 0.6 percent in January

Mar 07, 2024 | News On Japan

TOKYO - In January, workers' "gross cash earnings" saw a 2.0 percent increase compared to the same period last year, yet the "real wages," adjusted for price fluctuations, decreased by 0.6 percent. This marks the 22nd consecutive month of real wage decline.

According to the "Monthly Labour Survey" released by the Ministry of Health, Labour and Welfare, the total amount of cash earnings received by workers in January was an average of 282,270 yen, a 2.0% increase from the same month last year, continuing a 25-month streak of growth.

The consumer price index rose by 2.5% compared to the same month last year, though the rate of increase was somewhat moderated.

However, considering the impact of prices, real wages fell by 0.6%, resulting in 22 consecutive months of decline.

The Ministry of Health, Labour, and Welfare commented, "The situation where wage increases cannot keep up with the rise in prices is continuing. We will closely monitor future trends."

Source: ANN

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