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Real wages in Japan rise in December, however fall for third straight 12 months

Real wages in Japan rise in December, however fall for third straight 12 months


Real wages in Japan declined for a 3rd consecutive 12 months in 2024 as inflation continued to outpace pay will increase, which have been beneficiant on a nominal foundation in recent times.

“Inflation turned out to be increased than projected primarily as a result of rising rice costs and stronger downward stress on the yen,” mentioned Saisuke Sakai, chief economist at Mizuho Research & Technologies.

Inflation-adjusted pay together with bonuses fell 0.2% in 2024. The nominal improve was 2.9%, whereas consumer-price inflation for the 12 months got here in at 3.2%. Real wages fell 2.5% in 2023 and 1.0% in 2022. In 2021, they rose 0.6%.

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Written by EGN NEWS DESK

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