Japanese workers saw their nominal wages rise at the fastest pace in four months, reflecting gains won in annual negotiations with employers and fueling market speculation that the Bank of Japan may hike its benchmark rate in coming months.
Nominal wages increased 2.5% in June from a year earlier, accelerating from a revised 1.4% gain the previous month, the labor ministry reported Wednesday. While the figure fell short of economists’ forecast of a 3.1% rise, it still marked the steepest increase since February.
Base salaries rose 2.1%, and a more stable measure, which avoids sampling issues and excludes bonuses and overtime, climbed 2.3% for regular workers. Real cash earnings fell 1.3%, a deeper decline than the 0.7% retreat expected by economists.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.