Indicators
Japan Base Pay Gains by Record, Keeps Door Open for BOJ Hike
- Full-time workers see base wages rise 2.8% in October
- Household spending offers less optimistic view on growth cycle
The Bank of Japan (BOJ) headquarters in Tokyo.
Photographer: Akio Kon/BloombergThis article is for subscribers only.
Base salaries for regular workers in Japan rose by a record, a further indication of progress toward a positive economic cycle that will support market speculation of a near-term rate hike by the central bank.
Base pay for full-time workers increased by 2.8% in October from a year ago, the biggest gain for comparable data back to 1994, the labor ministry reported Friday. Real cash earnings remained unchanged, avoiding a decline for the first time in three months, and beating economist estimates of a decrease.