Japan's nominal cash earnings declined 2.1 percent year-on-year in May 2020, falling at the steepest pace since June 2015 amid the coronavirus pandemic. Regular pay, which accounts for the bulk of monthly wages, rose 0.2 percent after a 0.1 percent increase in the prior month. Meanwhile, one-off special payments plunged 11.3 percent, following an 8.5 percent surge in April, while overtime pay plummeted 25.8 percent, the most since comparable data became available in January 2013. Real wages, a gauge of household purchasing power, shrank 2.1 percent, the most in five years.

Wage Growth in Japan averaged 3.18 percent from 1972 until 2020, 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 July of 2020. source: Ministry of Health, Labour and Welfare, Japan

Wage Growth in Japan is expected to be 0.20 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 0.30 in 12 months time. In the long-term, the Japan Total Cash Earnings Growth is projected to trend around 0.50 percent in 2021, according to our econometric models.

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Japan Total Cash Earnings Growth

Actual Previous Highest Lowest Dates Unit Frequency
-2.10 -0.70 35.02 -7.10 1972 - 2020 percent Monthly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-04-06 11:30 PM Feb 1% 1.5% 2.1% 2%
2020-05-07 11:30 PM Mar 0.1% 0.7% 0.3%
2020-06-08 11:30 PM Apr -0.6% 0.1% 0.6% 0.5%
2020-07-06 11:30 PM May -2.1% -0.7% -1.1% -0.5%
2020-08-06 11:30 PM Jun -2.1% -0.5%
2020-09-07 11:30 PM Jul
2020-10-08 11:30 PM Aug
2020-11-05 11:30 PM Sep 0.2%


News Stream
Japan Wages Fall Most in 5 Years
Japan's nominal cash earnings declined 2.1 percent year-on-year in May 2020, falling at the steepest pace since June 2015 amid the coronavirus pandemic. Regular pay, which accounts for the bulk of monthly wages, rose 0.2 percent after a 0.1 percent increase in the prior month. Meanwhile, one-off special payments plunged 11.3 percent, following an 8.5 percent surge in April, while overtime pay plummeted 25.8 percent, the most since comparable data became available in January 2013. Real wages, a gauge of household purchasing power, shrank 2.1 percent, the most in five years.
2020-07-06
Japan Total Cash Earnings Fall the Most in 9 Months
Japan's nominal cash earnings declined 0.6 percent year-on-year in April 2020, the largest decline in nine months, after rising 0.1 percent in March. Regular pay, which accounts for the bulk of monthly wages, dropped a sharp 0.9 percent after a flat reading in the prior month. Meanwhile, one-off special payments surged 10.6 percent, following a 0.5 percent increase in March, while overtime pay plunged 12.2 percent after a 4 percent drop. Real wages shrank 0.7 percent, after falling 0.3 percent in the previous month.
2020-06-08
Japan Total Cash Earnings Growth Slows Down
Japan's nominal cash earnings edged up 0.1 percent year-on-year in March 2020, slowing steeply from a downwardly revised 0.7 percent increase in the previous month. Regular pay, which accounts for the bulk of monthly wages, advanced 0.3 percent after increasing 0.5 percent; and one-off special payments declined 3 percent after soaring 28.9 percent in February, while overtime pay declined 4.1 percent (vs -1.8 percent in February). Real wages shrank 0.3 percent, after a 0.2 percent increase in the prior month.
2020-05-07
Japan Total Cash Earnings Miss Expectations
Japan's nominal cash earnings climbed 1 percent year-on-year in February 2020, slowing from a downwardly revised 1.2 percent increase in the previous month and missing market expectations of a 2.1 percent gain. Regular pay, which accounts for the bulk of monthly wages, advanced 0.7 percent for the second month; and one-off special payments jumped 21.5 percent (vs 9.5 percent in January), while overtime pay declined 1.2 percent (vs -0.8 percent in January). Real wages grew 0.5 percent, after a 0.4 percent increase in the prior month.
2020-04-06

Japan Total Cash Earnings Growth
In Japan, wage growth refers to changes in average cash earnings, including contractual and special cash earnings, in companies with five or more employees.