Real Wages in Japan Rise 2.4 Pct in July

Tokyo, Sept. 8 (Jiji Press)–Japan’s inflation-adjusted real wage index rose 2.4 pct in July from a year earlier, up for the seventh consecutive month, as wage growth outpaced slowing inflation, labor ministry data showed Tuesday. Nominal wages per worker, including basic salary and overtime, climbed 4.7 pct to 436,401 yen, according to the preliminary data covering businesses with five or more employees. Special pay increased 6.3 pct to 134,819 yen thanks to summer bonuses, while regular pay, mainly comprising base salary, rose 4.1 pct to 280,797 yen. Nominal wages for full-time workers, such as regular employees, increased 4.7 pct to 578,123 yen, and those for part-time workers climbed 4.7 pct to 123,493 yen. The consumer price index excluding imputed rent, used to calculate the real wage index, was up 2.2 pct. Although the increase was larger than in the previous month, it remained below the year-earlier growth rate of over 3 pct. END [Copyright The Jiji Press, Ltd.]