Indicators
Japan Sees Fastest Base Pay Gains in 32 Years in Boost for BOJ
- Real wages fall more than expected as inflation accelerates
- Figures come as annual wage negotiations reach a peak
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Japan’s workers saw their base pay rise at the fastest clip in 32 years, a result that sends a positive signal to the Bank of Japan as it weighs the prospects for demand-driven economic growth.
Base pay rose by 3.1% in January from a year earlier, the largest advance since October 1992, the labor ministry reported Monday. Also, a more stable measure of wage trends that avoids sampling problems and excludes bonuses and overtime showed wages for full-time workers grew by 3%, topping that threshold for the first time since July.