The data is here: Japan - Labour cash earnings (March): -0.4% y/y (expected +0.5%)

Reuters with more:

  • Real wages fell at the fastest pace in almost two years
  • pressured by meager nominal pay hikes and a slight rise in consumer prices
  • A setback for Prime Minister Shinzo Abe's attempts to revitalize the economy
  • The wages figures back recent data showing household spending fell more than expected and core consumer prices rose at a slower-than-expected pace in March, suggesting an exit from the central bank's radical quantitative easing program remains distant
  • The data underscores the fragile and patchy nature of Japan's economic recovery

Link is here for more


Data such as this will keep the Bank of Japan very firmly in 'aggressive' easing mode. Governor Kuroda seems on board with this ;-) BOJ's Kuroda: Aggressive monetary easing still necessary