Japan Oct price-adjusted wages mark first rise since Dec 2016

Japan Oct price-adjusted wages mark first rise since Dec 2016
TOKYO, Dec 8 (Reuters) - Japanese wages rose 0.2 percent in
October from a year earlier after adjustment for inflation, the
labour ministry said on Friday, marking their first rise since
December 2016 in a sign a tight job market may finally be
leading to higher salaries.
The data will be welcome news for the government, which has
been urging companies to spend their massive cash reserves on
wage increases to help spur consumer spending.
The Bank of Japan has been asserting that the tightest job
market in four decades will push up incomes and eventually help
consumer inflation reach its target rate of 2 percent.
Wage earners' nominal cash earnings rose 0.6 percent
compared with the same month last year, up for a third straight
Special payments, which include bonuses, slipped 0.5 percent
year-on-year in October, the data showed.
Regular pay, which determines base wages, rose 0.7 percent
from a year earlier.
Overtime pay, a barometer of strength in corporate activity,
increased 0.2 percent.
The following table shows preliminary data for monthly
incomes and numbers of workers in October:

Payments (amount) (yr/yr pct change)
Total cash earnings 268,392 yen +0.6
-Monthly wage 262,130 yen +0.7
-Regular pay 242,365 yen +0.7
-Overtime pay 19,765 yen +0.2
-Special payments 6,262 yen -0.5
Number of workers (million) (yr/yr pct change)
Overall 50.487 mln +2.7
-General employees 34.994 mln +3.0
-Part-time employees 15.494 mln +2.3

The ministry defines "workers" as 1) those who are employed
for more than one month at a firm that employs more than five
people, or 2) those who are employed on a daily basis or have
less than a one-month contract but had worked more than 18 days
during the two months before the survey was conducted at a firm
that employs more than five people.
To view the full tables, see the labour ministry's website
at: http://www.mhlw.go.jp/english/database/db-l/index.html

(Reporting by Chris Gallagher; Editing by Jacqueline Wong)

2017-12-08 02:00:01

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