Average cash earnings in Japan grew by 3.5% yoy in April 2026, accelerating from an upwardly revised 3.1% rise in the previous month and surpassing market forecasts of 3.2%. It was the 52nd straight month of growth in nominal wages and the fastest pace since December 2024. Earnings rose across all sectors, including construction (4.3%), manufacturing (4.5%), mining & quarrying (1.1%), utilities (4.5%), information and communications (5.6%), transport and postal services (7.2%), wholesale and retail trade (2.8%), finance and insurance (11.2%), real estate (1.2%), the food industry (1.8%), and education (2.4%). Base pay increased 3.4%, unchanged from a revised figure in March. Meanwhile, inflation-adjusted real wages rose 1.9% yoy in April, marking a fourth straight month of increase and accelerating from an upwardly revised 1.4% gain in the previous month. This was the longest stretch of gains in four years and fueled speculation that the BoJ may raise interest rates this month. source: Ministry of Health, Labour and Welfare, Japan

Wages in Japan increased 3.50 percent in April of 2026 over the same month in the previous year. Wage Growth in Japan averaged 2.99 percent from 1972 until 2026, 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 Average Cash Earnings YoY - data, historical chart, forecasts and calendar of releases - was last updated on June of 2026.

Wages in Japan increased 3.50 percent in April of 2026 over the same month in the previous year. Wage Growth in Japan is expected to be 2.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Japan Average Cash Earnings YoY is projected to trend around 1.70 percent in 2027, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-05-07 11:30 PM
Average Cash Earnings YoY
Mar 2.7% 3.4% 3.2% 3.4%
2026-06-04 11:30 PM
Average Cash Earnings YoY
Apr 3.5% 3.1% 3.2% 2.8%
2026-07-06 11:30 PM
Average Cash Earnings YoY
May 3.5%



Components Last Previous Unit Reference
Overtime Pay YoY 4.20 3.10 percent Apr 2026
Real Earnings Including Bonuses 1.90 1.40 Percent Apr 2026

Related Last Previous Unit Reference
Full Time Employment 23733.00 23133.00 Thousand Apr 2026
Job Vacancies 802.00 787.00 Thousand Apr 2026
Jobs/applications ratio 1.18 1.18 Apr 2026
Minimum Wages 1064.00 1121.00 JPY/Hour Oct 2026
Part Time Employment 7858.00 7929.00 Thousand Apr 2026
Retirement Age Men 65.00 65.00 Years Dec 2026
Retirement Age Women 65.00 65.00 Years Dec 2026
Average Cash Earnings YoY 3.50 3.10 percent Apr 2026
Wages 352345.00 359724.00 JPY/Month Apr 2026
Wages in Manufacturing 337251.00 329333.00 JPY/Month Apr 2026


Japan Average Cash Earnings YoY
In Japan, wage growth refers to changes in average cash earnings, including contractual and special cash earnings, in companies with five or more employees.
Actual Previous Highest Lowest Dates Unit Frequency
3.50 3.10 35.02 -7.10 1972 - 2026 percent Monthly
NSA

News Stream
Japan Nominal Wage Growth Hits 16-Month High
Average cash earnings in Japan grew by 3.5% yoy in April 2026, accelerating from an upwardly revised 3.1% rise in the previous month and surpassing market forecasts of 3.2%. It was the 52nd straight month of growth in nominal wages and the fastest pace since December 2024. Earnings rose across all sectors, including construction (4.3%), manufacturing (4.5%), mining & quarrying (1.1%), utilities (4.5%), information and communications (5.6%), transport and postal services (7.2%), wholesale and retail trade (2.8%), finance and insurance (11.2%), real estate (1.2%), the food industry (1.8%), and education (2.4%). Base pay increased 3.4%, unchanged from a revised figure in March. Meanwhile, inflation-adjusted real wages rose 1.9% yoy in April, marking a fourth straight month of increase and accelerating from an upwardly revised 1.4% gain in the previous month. This was the longest stretch of gains in four years and fueled speculation that the BoJ may raise interest rates this month.
2026-06-04
Japan Nominal Wage Rises Less than Expected
Average cash earnings in Japan rose by 2.7% yoy in March 2025, slowing from a marginally revised 3.4% gain in the previous month and missing market forecasts of 3.2%. It was the 51st straight month of growth in nominal wages, but the mildest pace since December, amid caution about uneven domestic demand and rising external risks. Earnings rose for construction (9.6%), manufacturing (2.9%), utilities (1.7%), information (4.0%), transport & postal services (2.9%), wholesale & retail trade (2.4%), finance & insurance (7.6%), and real estate (1.9%). In contrast, they fell for mining & quarrying (-0.7%), the food industry (-7.4%), and education (-0.1%). Base pay increased 1.9%, easing from a marginally revised 3.4% gain and pointing to the softest rise in three months. Meanwhile, inflation-adjusted real wages grew 1% yoy in March, a third straight month of increase, moderating from a revised 2% gain in February.
2026-05-07
Japan Nominal Wage Growth at 7-Month High
Japan's nominal wage growth rose by 3.3% year-on-year in February 2026, surpassing expectations of a 2.7% increase and edging up from the previous month's 3% gain. It also marked the highest annual growth since July 2025. Base pay rose by 3.3%, the most substantial jump in nearly 34 years, while a more stable measure that strips out bonuses and overtime saw full-time workers' wages increase by 3.1%, the largest increase since data for this metric became available in 2026. Meanwhile, inflation-adjusted real wages, widely regarded as a gauge of household purchasing power, rose by 1.9% yoy in February, marking the second straight month of growth. The strong wage data has fueled speculation that the Bank of Japan may raise interest rates, with overnight swaps pricing in a 50% chance of a 25bps rate hike at the April 28 meeting. However, uncertainties persist as the ongoing Middle East war, rising commodity prices, and a weaker yen strain corporate margins, which could limit pay increases.
2026-04-08