Average cash earnings in Japan rose by 1.9 percent year-on-year in May 2021, following a downwardly revised 1.4 percent rise in the previous month. This was the third straight month of increase in wage growth and the steepest pace since June 2018, with earnings increasing in mining & quarrying (3.8%), construction (1%), manufacturing (2.3%), information (0.6%), transport (3.4%), wholesale & retail trade (3.5%), finance & insurance (3.8%), real estate and leasing (2.8%), accommodations (2%), education (1.9%), and services (5.1%). In contrast, earnings fell in utilities (-6.2%), and scientific research (-1.8%). Regular pay, meantime, went up 0.8% yoy, rising for the fifth month in a row. Overtime pay, a barometer of strength in business activity, jumped 20.7% yoy in May, the biggest monthly gain since comparable data available in 2013. Special payment rose 1% yoy. source: Ministry of Health, Labour and Welfare, Japan
Wage Growth in Japan averaged 3.10 percent from 1972 until 2021, reaching an all time high of 35.02 percent in July of 1974 and a record low of -7.10 percent in June of 2009. This page provides - Japan Wage Growth- actual values, historical data, forecast, chart, statistics, economic calendar and news. Japan Total Cash Earnings Growth - data, historical chart, forecasts and calendar of releases - was last updated on August of 2021.
Wage Growth in Japan is expected to be 2.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Wage Growth in Japan to stand at 3.00 in 12 months time. In the long-term, the Japan Total Cash Earnings Growth is projected to trend around 1.50 percent in 2022 and 0.80 percent in 2023, according to our econometric models.