— Japan June Average Base Wages -0.2% Y/Y, 1st Fall In 2 Months
— Japan June Overtime Pay +4.1% Y/Y, 9th Straight Gain
— Japan June Bonuses, Other Special Pay -1.5%, 2nd Straight Fall
TOKYO (MNI) – The total average monthly cash earnings per regular
employee in Japan posted the second straight monthly fall in June, down
0.6% at Y432,756, after -1.1% in May and +0.2% in April, preliminary
data from the Ministry of Health, Labour and Welfare released on Tuesday
showed.
The decline in base wages as well as bonuses and other one-off pay
more than offset a continued rise in overtime pay in June.
Average “base wages” — the key indicator for a recovery in
employee earnings — fell 0.2% on year in June, posting the first fall
in two months after no change in May and -0.2% in April.
Bonuses and other special pay fell 1.5% y/y, posting the second
straight monthly fall, after -35.5% in May and +2.1% in April.
By contrast, overtime pay posted a ninth straight gain, up 4.1% on
year in June, after +6.9% in May.
Overtime hours worked in the manufacturing sector rose 5.3% in
June, posting the 13th consecutive monthly gain after +12.8% in May.
Compared to the previous month, overtime hours worked at
manufacturers fell 0.5% on a seasonally adjusted basis, showing the
fourth month-on-month drop after -3.1% in May.
Total overtime hours worked for all industries rose 1.2% on year in
June, the 10th straight rise after +5.6% in May.
Total hours worked fell 0.5% y/y in June, posting the first drop in
11 months.
The number of regular workers rose 0.8% y/y in June after +0.9% in
May, maintaining year-over-year growth for over six years since March
2006.
Regular employees are workers on permanent payrolls as well as
those with part-time status.
tokyo@marketnews.com
** MNI Tokyo Newsroom: 81-3-5403-4437 **
[TOPICS: M$J$$$,MAJDS$,M$A$$$,MT$$$$]
