Japan March Wages Post Biggest Rise in over 14 Years

May 9, 2018

Tokyo- Japan's overall average wages in March increased 2.1 pct from a year before to 284,464 yen, up for the eighth consecutive month and posting the biggest growth since June 2003, the labor ministry said in a preliminary report on Wednesday.

Amid a steady rise in pay, many companies are believed to have paid special one-time benefits reflecting strong earnings performances.

The inflation-adjusted real wage index for March rose 0.8 pct, up for the first time in four months.

The consumer price index for the month, excluding estimated rent by homeowners, was up 1.3 pct, but nominal wage growth outpaced the price increase.

Regular pay was up 1.3 pct at 243,968 yen, while nonregular pay, such as overtime, increased 1.8 pct to 20,265.

Special pay including bonuses surged 12.8 pct to 20,231 yen. Jiji Press