News On Japan

Japan's Real Wages Fall for Record 26th Consecutive Month

TOKYO, Jul 08 (News On Japan) - Real wages per worker, which reflect changes in the cost of living, have decreased for a record 26 consecutive months, according to data for May.

The Ministry of Health, Labor, and Welfare reports that the total cash earnings per worker in May, including base pay, overtime, and bonuses, amounted to 297,151 yen. This marks a 1.9% increase from the same month last year and the 29th consecutive month of rising wages.

Regular pay, which focuses primarily on base salary, was 263,539 yen in May, a 2.5% increase from the previous year. This is the highest growth rate in 31 years and four months.

However, real wages, which take inflation into account, dropped by 1.4% compared to 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 commented, 'Despite substantial wage increases observed in this year's spring labor offensive, they have not kept pace with rising prices.'

Source: TBS

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