Japan September Labor Cash earnings y/y

  • expected +0.8%, prior was +0.9%

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Via Reuters:

  • Real wages, which are adjusted to reflect changes in consumer prices, fell 2.9 percent in September from a year earlier, following a revised 3.1 percent annual decline in August
  • Summer bonus payments, which cover the period from June to August, rose 3.1 percent from a year ago, the largest gain since 1991 (i.e. grew at the fastest pace in 23 years) but this coincided with a slump in consumption, suggesting households were not confident enough to boost spending
  • Overtime pay, a barometer of strength in corporate activity, rose 1.6 percent in September from a year earlier. That was faster than a revised 1.2 percent annual gain in August