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Japan October price-adjusted wages mark first rise since December 2016
December 8, 2017 / 12:13 AM / 8 days ago

Japan October price-adjusted wages mark first rise since December 2016

TOKYO (Reuters) - Japanese wages rose 0.2 percent in October from a year earlier after adjustment for inflation, the labor 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 month.

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.

To view the full tables, see the labor ministry's website at: here

Reporting by Chris Gallagher; Editing by Jacqueline Wong

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