Japan’s real wages drop in January, spring wage talks in focus
2 weeks, 6 days ago

Japan’s real wages drop in January, spring wage talks in focus

Live Mint  

* Japan Jan real wages -1.8% year/year vs revised 0.3% in Dec * Two-year high inflation drags real pay down despite solid nominal growth * Labour unions demand highest pay hike in more than 30 years By Kantaro Komiya TOKYO, - Japan's real wages fell in January after two months of slight gains, data showed on Monday, days before the annual rounds of pay negotiations held each spring culminate at the country's major firms. Despite regular pay rising the most in more than 30 years and overtime pay increasing, lifting nominal wages, inflation at a two-year high dragged down real wages - the indicator policymakers see as key to achieving consumption-driven economic growth. The consumer inflation rate the ministry uses to calculate real wages, which includes fresh food items but not rent costs, rose to 4.7% year-on-year - the highest reading since January 2023. Regular pay, or base salary, rose 3.1% in January following December's revised 2.6% increase and marking the biggest jump since 1992, the data showed.

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Japan firms set to offer large wage hikes for a third straight year
2 weeks, 4 days ago

Japan firms set to offer large wage hikes for a third straight year

Live Mint  

By Makiko Yamazaki TOKYO, - Many of Japan's biggest companies are expected to offer substantial wage hikes for a third consecutive year when they conclude talks with unions on Wednesday, seeking to help workers cope with inflation and retain staff amid labour shortages. Last year's "shunto" or "spring labour offensive" negotiations resulted in the sharpest increase in 33 years, enabling …

Japan Union Head Calls for Government to Accelerate Wage Efforts
3 months, 2 weeks ago

Japan Union Head Calls for Government to Accelerate Wage Efforts

Live Mint  

The chair of Japan’s metalworkers’ union urged the government to accelerate efforts to raise pay, while expressing concern over premature tightening steps from the central bank. “We need to see improvements this year,” said Akihiro Kaneko, president of the Japan Council of Metalworkers’ Unions, speaking about the government’s measures to help smaller firms pass costs on to customers throughout the …

Japan’s workers get rare pay bump after decades without a raise
1 year, 8 months ago

Japan’s workers get rare pay bump after decades without a raise

Al Jazeera  

Japanese employees earn only three-quarters as much as developed-country peers over 30 years after asset bubble burst. “I wish that was reflected in my salary.” Toyozawa’s plight is common in Japan, where more than three decades of economic stagnation have resulted in some of the weakest wage growth in the developed world. “Unfortunately the labour productivity growth rate has been …

Wages are finally rising in Japan, as inflation eats away at consumer gains
1 year, 9 months ago

Wages are finally rising in Japan, as inflation eats away at consumer gains

Associated Press  

TOKYO — Wages are rising in Japan more than they have in decades, at least for some workers. But a government survey of companies with five or more employees found real wages, taking into account higher prices, fell 3% from a year earlier in April, marking the 13th straight month of declines. Although all the major companies have raised wages …

Japan’s prices rise at fastest pace since 1981
2 years, 2 months ago

Japan’s prices rise at fastest pace since 1981

Al Jazeera  

Consumer prices in the world’s third-biggest economy rose by 4 percent in December. Japan’s prices rose at their fastest pace in more than four decades in December, stoking expectations the country’s central bank could finally move away from ultra-low interest rates. Consumer prices in the world’s third-biggest economy rose by 4 percent year-on-year, the sharpest rise since 1981, government data …

Japan’s households raise spending for first time in 4 months
2 years, 7 months ago

Japan’s households raise spending for first time in 4 months

Al Jazeera  

Japan’s households increased spending for the first time in four months in June, as demand for travel services rose in a positive sign for broader economic recovery prospects. Spending jumped 3.5 percent in June from a year earlier, government data showed on Friday, posting its first year-on-year rise since January as households opened their purse strings for overnight stays, package …

Japan’s economy contracts, but at smaller rate than thought
2 years, 9 months ago

Japan’s economy contracts, but at smaller rate than thought

Associated Press  

TOKYO — The Japanese economy contracted in the first quarter, but at a slower pace than earlier estimated, the government said Wednesday. Some analysts say Japan has gradually lost its competitive edge because it hasn’t done enough to nurture innovation and free up new sources of growth bridled by old-time bureaucracies. Although a weak currency is a boon for Japanese …

Japan's factory output rebounds, jobless rate dips as coronavirus lockdown lifts
4 years, 7 months ago

Japan's factory output rebounds, jobless rate dips as coronavirus lockdown lifts

India Today  

Japan's industrial output snapped four months of decline in June, pointing to a modest recovery in broader business and consumer activity in the world's third-largest economy following a heavy hit to demand from the coronavirus pandemic. Separate data showed the June jobless rate edged down from a three-year high hit the previous month, although the number of available jobs per …

Japan’s job-for-life culture has survived war, earthquakes and now a pandemic
4 years, 9 months ago

Japan’s job-for-life culture has survived war, earthquakes and now a pandemic

CNN  

Tokyo CNN Business — Nanami Kodaira hasn’t worked since her hair salon in Tokyo cut its hours in April in response to the coronavirus pandemic. “I am not the only one.” But Kodaira isn’t counted among the 1.9 million people in Japan who didn’t have jobs in May, accounting for 2.9% of the workforce. That’s because Japan’s practice of holding …

Japan prices fall 1.2 per cent in March, 13th month in a row
14 years, 11 months ago

Japan prices fall 1.2 per cent in March, 13th month in a row

The Hindu  

Japan’s key consumer price index fell 1.2 per cent in March from a year earlier, making it the 13th consecutive month of decline, the Ministry of Internal Affairs and Communications said Friday. The ministry also said in a separate report that average monthly spending by Japanese households in March rose 4.4 per cent from a year earlier to 319,991 yen …

Japan unemployment rate up in November, prices fall
15 years, 3 months ago

Japan unemployment rate up in November, prices fall

The Hindu  

Deflation tightened its hold on Japan in November and the unemployment rate rose for the first time in four months, as the world’s second-biggest economy struggles to stage a convincing comeback. The result marks the first increase since July and misses Kyodo News agency’s average market forecast of 5.2 percent. Although export growth, particularly to the rest of Asia, is …

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