Japan’s real wages fall 0.6 pct in August

TOKYO, Oct. 8 (Xinhua) — Japan’s average monthly wages in inflation-adjusted terms fell 0.6 percent year on year in August as price increases outpaced nominal earnings growth, official data showed on Tuesday.
Inflation-adjusted real wages, a barometer of consumer purchasing power, had turned positive in June for the first time in 27 months and continued to grow in July, but fell back into negative territory in August, according to data from the Ministry of Health, Labor and Welfare.
Nominal monthly earnings, including base pay and overtime, rose 3 percent year on year to reach 296,588 yen (about 2,008.5 U.S. dollars) per person, marking the 32nd consecutive month of positive growth.
Regular pay including basic salary went up 3.0 percent to 264,038 yen, the biggest rise in nearly 32 years. Overtime and other allowances were up 2.6 percent to 19,599 yen, the data showed.
The ministry attributed the August decline to the weakening impact of bonuses as businesses tend to hand out bonuses in June and July, pledging to continue to monitor real wages growth trends. ■