According to Japanese Daily Journalism 》On May 9, it was reported that the latest data released by the Ministry of Health, Labor and Welfare of Japan on May 9 showed that after taking into account the factors of price changes, Japan's real wages fell 2.5% year-on-year in March this year, which has been declining for 24 consecutive months, the longest consecutive decline since 1991 with comparable data.
The previous longest consecutive drop was 23 months from September 2007 to July 2009, during which the Lehman crisis occurred. The difference between this time and the last time is that the nominal wage decreased last time, and this time it increased, but it could not catch up with the increase in prices. Although the labor negotiation this spring achieved a 33 year high wage increase, it will take several months to actually reflect the wage, so its effect on the real wage may be revealed later.
Data shows that the nominal wage of the paid income increased by 0.6% year on year to 301193 yen (about 1930 dollars) in March this year, and has risen for 27 consecutive months year on year since January 2022. However, due to the soaring cost of raw materials and the depreciation of the yen, food and commodity prices remain high. In March, the national consumer price index (excluding fresh food) rose 2.6% year-on-year to 106.8, exceeding the Bank of Japan's inflation target of 2% for 24 consecutive months. The decrease in real wages was larger than 1.8% in February.
Among the received income, the fixed income mainly based on basic salary increased by 1.7% to 259531 yen year-on-year, which is the specific embodiment of the salary increase. According to the type of employment, the salary of regular employees increased by 0.8% year-on-year to 386795 yen, and that of part-time employees increased by 2.5% year-on-year to 108036 yen.
In terms of industry, the largest increase in income received was in the financial and insurance industry (7.2%), followed by life related services (5.4%), information and communication industry (4.9%), education and learning guidance industry (3.8%), etc. The construction industry and manufacturing industry with large number of employees also increased by 2.5% and 0.4% respectively, but the medical industry did not increase or decrease. (Compiled by/Liu Lin)
(Source: Reference message network ）
