— Japan Sep Average Base Wages Revised -0.3% Y/Y Vs Flat; Aug -0.2%
— Japan Sep Overtime Hours Worked Revised +1.0% Y/Y Vs Flat; Aug -2.1%
TOKYO (MNI) – The total average monthly cash earnings per regular
employee in Japan fell 0.4% on year to Y266,958 in September, revised
down from the preliminary reading of being unchanged, data from the
Ministry of Health, Labour and Welfare released on Friday showed.
It was the fourth straight year-on-year drop in wages following
-0.4% in August, -0.2% in July and -0.7% in June.
Downward revisions to base wages, overtime pay and special pay
including bonuses led to the lower total earnings in September.
Average “base wages” — the key indicator for a recovery — fell a
revised 0.3% on year in September from being unchanged in preliminary
data, marking the ninth straight y/y drop.
Base wages, which are scheduled cash earnings at surveyed companies
that employ five or more people, have been on a downtrend after showing
a rare increase of 0.1% in December 2010.
Overtime pay rose a revised 0.1% on year (preliminary +0.2%) in
September, showing the first gain in two months.
Bonus and other special pay fell 6.5% y/y in September, revised
down sharply from a preliminary -3.1%, posting the second straight y/y
drop.
Overtime hours worked rose 1.0% on year in September, revised up
from the preliminary estimate of being flat, marking the first y/y rise
in seven months.
Cash earnings include overtime and bonuses. Regular employees are
workers on permanent payrolls as well as those with part-time status.
tokyo@marketnews.com
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