Japan's nominal cash earnings declined 2.1 percent year-on-year in May 2020, falling at the steepest pace since June 2015 amid the coronavirus pandemic. Regular pay, which accounts for the bulk of monthly wages, rose 0.2 percent after a 0.1 percent increase in the prior month. Meanwhile, one-off special payments plunged 11.3 percent, following an 8.5 percent surge in April, while overtime pay plummeted 25.8 percent, the most since comparable data became available in January 2013. Real wages, a gauge of household purchasing power, shrank 2.1 percent, the most in five years.
Wage Growth in Japan averaged 3.18 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 August of 2020. source: Ministry of Health, Labour and Welfare, Japan
Wage Growth in Japan is expected to be 0.20 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 0.30 in 12 months time. In the long-term, the Japan Total Cash Earnings Growth is projected to trend around 0.50 percent in 2021, according to our econometric models.