Jobs
Japan’s Real Wages Decline Likely to Keep BOJ on Hold for Now
- Economists expect real wages to turn positive as soon as June
- Annual wage negotiations resulted in biggest gains in 30 years
Some economists expect real wages to turn positive as soon as June, as salary increases start to be reflected in pay stubs.
Photographer: Soichiro Koriyama/BloombergThis article is for subscribers only.
Japanese workers’ real wages fell in February for a 23rd consecutive month after consumer price growth accelerated, exerting a drag on spending, in an outcome that will likely keep the central bank on hold for now.
Real cash earnings for workers dropped 1.3% from a year earlier, the labor ministry reported Monday, a steeper decline than in the previous month. Economists forecast a 1.4% retreat. Nominal wages grew 1.8%, in line with the consensus estimate.