Real Wages in Japan Up for 3rd Month in March

Tokyo, May 8 (Jiji Press)–Japan’s inflation-adjusted real wage index in March rose 1.0 pct from a year earlier, up for the third consecutive month, government data showed Friday. The increase was partly attributed to slower inflation due to the impact of government subsidies for electricity and gas bills, as well as reductions in gasoline taxes. In March, the consumer price index excluding imputed rent, which is used to calculate the real wage index, went up 1.6 pct, slowing from a 4.2 pct increase a year before. The latest data indicate that inflation was kept at a relatively low level by government policy measures, allowing wage growth to outpace price increases. Monthly nominal wages, including base salary and overtime pay, increased 2.7 pct to 317,254 yen on average, up for the 51st straight month, the labor ministry said in a preliminary report covering businesses with five or more employees. Regular pay, mainly comprising base salary, climbed 3.2 pct to 271,313 yen, marking growth of 3 pct or more for three consecutive months. Nominal wages for full-time workers went up 3.3 pct to 413,495 yen, and those for part-timers gained 1.4 pct to 112,621 yen. The average hourly wage for part-time workers rose 3.8 pct to 1,431 yen. END [Copyright The Jiji Press, Ltd.]