Japan wages data for November 2022: real wages fall their fastest y/y since May 2014

November wages data from Japan:

• total cash earnings Earnings A company’s earnings represent its profits or net benefits as a result of its operation.Earnings are the net benefits of a corporation's operation. Earnings can be calculated as EBIT, i.e. earnings before interest and taxes, and EBITDA, i.e. earnings before interest, taxes, depreciation, and amortization.Earnings are valuable tools for investors of company shares as they can often highlight a company’s financial standing and performance. Better performances can result in strengthened share price A company’s earnings represent its profits or net benefits as a result of its operation.Earnings are the net benefits of a corporation's operation. Earnings can be calculated as EBIT, i.e. earnings before interest and taxes, and EBITDA, i.e. earnings before interest, taxes, depreciation, and amortization.Earnings are valuable tools for investors of company shares as they can often highlight a company’s financial standing and performance. Better performances can result in strengthened share price Read this Term +0.5% yr/yr
• overtime pay +5.2% yr/yr
• inflation-adjusted real wages -3.8% yr/yr (Inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term-adjusted real wages are a key indicator of consumer purchasing power. They dropped at the fastest pace of decline since a 4.1% drop in May 2014 and followed a revised 2.9% fall in October. In negative territory for the eighth month in a row)

Japan needs to address the slow wage recovery because it is hurting households and reducing consumer spending. Earlier this week, Japanese Prime Minister Fumio Kishida asked businesses to increase wages faster than inflation to avoid stagflation:

• Japan PM Kishida: There are stagflation concerns if wage growth lags behind price increase
• Japan PM Kishida calls on firms to push for wage hikes that exceed inflation rate