Japan Nominal Wages Rise 0.6% in March

Average cash earnings in Japan increased by 0.6% year-on-year in March 2024, slowing for the second straight month following a 1.8% gain in February.

The latest reading was also the lowest since September last year.

Moreover, the country’s nominal wage growth lagged behind the 2.6% core consumer inflation rate in March, marking two straight years of negative inflation-adjusted real wages which fell 2.5% last month.

The following industries contributed the most to the wage rise: finance & insurance (7.2%), living-related & personal services & amusement services (5.4%) and information & communications (4.9%).

Meanwhile, wages declined in mining & quarrying of stone & gravel (-11.6%), accommodations, eating & drinking services (-8%) and scientific research, professional & technical (-2.3%).