Japanese workers' base pay rose 2.3% in April, the largest increase since 1994, due to wage deals.
Japanese workers' base pay rose 2.3% in April, marking the largest increase since 1994, as wage deals are starting to take effect. Nominal wages increased by 2.1% year-on-year, while total cash earnings grew by 2.1%. This data suggests a possible link between rising wages and demand-led price increases, which the Bank of Japan is closely monitoring before considering further interest rate increases.
June 05, 2024
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