Average cash earnings in Japan stalled in November with a 0.0% change from a year earlier, snapping an eight-month growth streak and missing market expectations for a 0.2% annual increase. The slowdown in cash earnings was due to the increasing share of part-time workers who receive lower pay, a health ministry official said. He added that part-timers accounted for 31.87% of all workers in November, the highest rate since February 2019. The data came days after prime minister Fumio Kishida urged business lobbies and unions to work together to raise workers’ wages, as he aims to achieve a campaign promise of a cycle of economic growth and wealth distribution. Earnings increased mainly in real estate & goods rental (3.7%), accommodations, eating and drinking services (3.3%) and other services (3%); while it decreased mainly in information & communication (-5.2%), scientific research, professional & technical services (-4%) and medical, healthcare & welfare (-3.4%). source: Ministry of Health, Labour and Welfare, Japan
Wage Growth in Japan averaged 3.07 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 Average Cash Earnings YoY - data, historical chart, forecasts and calendar of releases - was last updated on January of 2022.
Wage Growth in Japan is expected to be 2.10 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 0.80 percent in 2023, according to our econometric models.