Reported about 1 year ago
According to the latest official data from Japan on July 8, 2024, the basic wages in May recorded the fastest growth rate in 31 years, indicating the effectiveness of the pay raise proposals from this year's annual spring labor negotiations. The upward trend in salary adjustments in Japanese companies is aiding the Bank of Japan in moving towards normalizing monetary policy. Despite the accelerated wage growth, real wages in May continued to decline for the 26th consecutive month due to the depreciation of the yen and rising commodity prices, pushing up import costs.
Source: YAHOO