Japanese Workers' Real Wages Fall for Fourth Consecutive Month
Real Wages in Japan Continue to Fall for Fourth Consecutive Month
Real wages for Japanese workers have continued to decline for the fourth consecutive month.
According to the "April Labor Statistics Survey" (preliminary figures) released by the Japanese Ministry of Health, Labor and Welfare on June 5, the average nominal wage per worker at companies with five or more employees was 302,453 yen (approximately 2,879,000 won). This represents a 2.3% increase compared to the same month last year.
As a result, nominal wages have risen for 40 consecutive months.
However, real wages, which reflect the inflation rate, decreased by 1.8% compared to the same month last year, marking a downward trend for the fourth straight month.
The Ministry of Health, Labor and Welfare analyzed that "the decline in real wages continues as the rate of price increases grows."
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Meanwhile, the Japanese government set a new policy goal last month to achieve an average annual increase of 1% in real wages by fiscal year 2029.
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