Japan’s Wages Jump by Biggest Margin in Almost 26 Years
- Strength of wage growth a key factor for Bank of Japan policy
- Household spending fell in December as inflation weighs
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Japanese workers’ nominal wages in December rose at the fastest pace since 1997, an acceleration in gains that may fuel speculation the central bank will consider shifting policy after Governor Haruhiko Kuroda steps down in April.
Nominal cash earnings for Japan’s workers jumped 4.8% from a year earlier in December, the labor ministry reported Tuesday. Hefty increases in winter bonuses boosted pay packets well beyond a 2.5% growth estimate by economists.