Japanese Average Cash Earnings
+1% y/y
- expected 1.5%, prior 1.7%
Overtime Pay +5.5% y/y
- prior 5.9%
After inflation wages wages fell 1.8% y/y
- expected -1.6%, prior -1.7%
Bank of Japan Governor Kuroda has repeated, over and over, that he needs to see wages increase it help inflation rise in a stable manner. A 1.8% real wage decline does not meet this criteria.
