Average cash earnings in Japan rose by 1.9 percent year-on-year in May 2021, following a downwardly revised 1.4 percent rise in the previous month. This was the third straight month of increase in wage growth and the steepest pace since June 2018, with earnings increasing in mining & quarrying (3.8%), construction (1%), manufacturing (2.3%), information (0.6%), transport (3.4%), wholesale & retail trade (3.5%), finance & insurance (3.8%), real estate and leasing (2.8%), accommodations (2%), education (1.9%), and services (5.1%). In contrast, earnings fell in utilities (-6.2%), and scientific research (-1.8%). Regular pay, meantime, went up 0.8% yoy, rising for the fifth month in a row. Overtime pay, a barometer of strength in business activity, jumped 20.7% yoy in May, the biggest monthly gain since comparable data available in 2013. Special payment rose 1% yoy. source: Ministry of Health, Labour and Welfare, Japan

Wage Growth in Japan averaged 3.10 percent from 1972 until 2021, reaching an all time high of 35.02 percent in July of 1974 and a record low of -7.10 percent in June of 2009. This page provides - Japan Wage Growth- actual values, historical data, forecast, chart, statistics, economic calendar and news. Japan Total Cash Earnings Growth - data, historical chart, forecasts and calendar of releases - was last updated on July of 2021.

Wage Growth in Japan is expected to be 2.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Wage Growth in Japan to stand at 3.00 in 12 months time. In the long-term, the Japan Total Cash Earnings Growth is projected to trend around 1.50 percent in 2022 and 0.80 percent in 2023, according to our econometric models.

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Japan Total Cash Earnings Growth

Actual Previous Highest Lowest Dates Unit Frequency
1.90 1.40 35.02 -7.10 1972 - 2021 percent Monthly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2021-04-05 11:30 PM Feb -0.2% -1.3% -0.3%
2021-05-06 11:30 PM Mar 0.2% -0.4% 0.1%
2021-06-07 11:30 PM Apr 1.6% 0.6% 0.5%
2021-07-05 11:30 PM May 1.9% 1.4% 2.7%
2021-08-05 11:30 PM Jun 1.9% 2%
2021-09-06 11:30 PM Jul
2021-10-07 11:30 PM Aug
2021-11-08 11:30 PM Sep


News Stream
Japan Cash Earnings Rise the Most in Nearly 3 Years
Average cash earnings in Japan rose by 1.9 percent year-on-year in May 2021, following a downwardly revised 1.4 percent rise in the previous month. This was the third straight month of increase in wage growth and the steepest pace since June 2018, with earnings increasing in mining & quarrying (3.8%), construction (1%), manufacturing (2.3%), information (0.6%), transport (3.4%), wholesale & retail trade (3.5%), finance & insurance (3.8%), real estate and leasing (2.8%), accommodations (2%), education (1.9%), and services (5.1%). In contrast, earnings fell in utilities (-6.2%), and scientific research (-1.8%). Regular pay, meantime, went up 0.8% yoy, rising for the fifth month in a row. Overtime pay, a barometer of strength in business activity, jumped 20.7% yoy in May, the biggest monthly gain since comparable data available in 2013. Special payment rose 1% yoy.
2021-07-05
Japan Total Cash Earnings Rise the Most in 29 Months
Average cash earnings in Japan rose by 1.6 percent year-on-year in April 2021, following an upwardly revised 0.6 percent rise in the previous month. This was the second straight month of increase in wage growth and the steepest pace since November 2018, with earnings increasing in mining & quarrying (5.1%), electricity (0.2%), wholesale and retail trade (1.8%), real estate (9.2%), accommodations (3.3%), and services (5.3%). In contrast, earnings fell in finance & insurance (-0.5%), education (-2%), and health (-0.7%). Regular pay, meantime, went up 0.9% yoy, rising for the fourth month in a row. Overtime pay, a barometer of strength in business activity, jumped 6.4% yoy in April, the first rise since August 2019. Special payment rose 8.5% yoy.
2021-06-08
Japan Total Cash Earnings Drop 0.8% YoY
Japan's nominal cash earnings declined 0.8 percent year-on-year in January of 2021, following a downwardly revised 3 percent drop in the prior month. Regular pay, which accounts for the bulk of monthly wages, increased 0.3 percent after a revised 0.1 drop in the prior month. Overtime pay, a barometer of strength in corporate activity, declined 6.6 percent, following an 8.6 percent slump in December. Meanwhile, special payments, which include bonuses, dropped 12.7 percent after falling 5.1 percent in December. Real wages shrank 0.1 percent, an 11th straight month of decline.
2021-03-08
Japan Cash Earnings Fall at Sharpest Pace in 12 Years
Japan's nominal cash earnings declined 3.2 percent year-on-year in December of 2020, the largest decline in twelve years, following a downwardly revised 1.8 percent drop in the prior month. Regular pay, which accounts for the bulk of monthly wages, dropped 0.8 percent after a revised 0.9 drop in the prior month. Meanwhile, special cash earnings dropped 5.4 percent after plunging 12.8 percent in November. Real wages shrank 1.9 percent, after falling a revised 0.7 percent in the previous month.
2021-02-08

Japan Total Cash Earnings Growth
In Japan, wage growth refers to changes in average cash earnings, including contractual and special cash earnings, in companies with five or more employees.