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. source: Ministry of Health, Labour and Welfare, Japan
Wage Growth in Japan averaged 3.12 percent from 1972 until 2020, 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 March of 2021.
Wage Growth in Japan is expected to be -1.60 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 2.50 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.