Japan's real wages fell for a record 26th month in May due to inflation outpacing wage growth.
Japan's real wages fell for a record 26th consecutive month in May due to inflation outpacing nominal earnings growth, according to official data from the Ministry of Health, Labor and Welfare. Inflation-adjusted real wages dropped 1.4% year-on-year, as higher material costs and a weaker yen pushed up import costs. Despite the largest base wage increase in 31 years, the impact of pay hikes was offset by inflation.
July 08, 2024
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