JAPAN DATA: The Ministry of Health, Labor and Welfare also released 2010
wages data, which showed a gradual recovery in the labor market.
— The total nominal average monthly cash earnings per regular
employee in Japan rose a preliminary 0.5% in 2010 from the previous
year, posting the first rise in four years after -3.8% in 2009.
— Average base wages, the key to a steady recovery, fell 0.2% on year
in 2010, marking the fifth year of decline after -1.3% in 2009.
— Overtime hours worked, which have pushed up overall cash
earnings in recent months, posted the first rise in three years, up 8.9%
in 2010 on year, following -15.2% in 2009. Overtime pay rose 9.1% in
2010, also the first gain in three years after -13.5% in 2009.
— Bonuses and other special pay increased 1.5% in 2010 vs. -11.8%
in 2009, marking the first rise in four years.
— The number of regular workers rose 0.3% in 2010, up for the
seventh straight year after +0.2% in 2009.