Japan’s real wages grew 1.6% in June from a year before, marking the sixth consecutive month of increases, according to government data.
Average nominal wages, or total cash earnings, rose 3.4% to 531,677 yen ($3,373.6) a month, faster than a revised 3.3% gain in May.
The growth in real pay matched May’s revised 1.6% gain, with workers’ base salaries, or regular pay, increasing 3.4%, accelerating from a 3.0% rise in May.
Overtime pay growth in June stood at 2.8%, the same rate as in May after a downward revision, while special payments, consisting mostly of one-time bonuses, rose 3.5% in June after a revised 7.4% growth for May.
The Bank of Japan maintained interest rates at its July policy meeting, with Governor Kazuo Ueda mentioning upside risks to prices, seen as a nod for another rate hike as soon as September.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
