Japan Real Wages Extend Gains as Nominal Pay Hits 1997 Pace
Real wages rose for a ninth straight month in September, while nominal pay recorded its fastest annual increase since 1997.
Key takeaways
- Real wages rose 2.2% year over year in September, extending their gains to nine months.
- Nominal wages increased 4.6%, the fastest rise since 1997.
Japan’s real wages rose 2.2% in September from a year earlier, extending their gains to nine months, government data showed. Nominal wages climbed 4.6%, the fastest increase since 1997.
The real-wage gain accelerated from a revised 1.6% rise in August. Base salaries increased 3.7%, while special payments jumped 32.6%; the labor ministry said that surge reflected a statistical quirk.
The figures support the case for the Bank of Japan to keep raising interest rates. Many analysts expect its next hike as soon as December, according to The Japan Times.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
