Japan's nominal cash earnings rose 2.0 percent year-on-year in November 2018, above the 1.5 percent increase in the previous month and market expectations of 1.3 percent. It was the highest growth rate in five months. Regular pay, which accounts for the bulk of monthly wages, grew 1.6 percent (vs an upwardly revised 1.5 percent in October), while one-off special payments, including bonuses, jumped 9.7 percent (vs 2.4 percent). Overtime pay, a barometer of strength in corporate activity, rose an annual 1.1 percent after climbing 1.7 percent. Real wages grew 1.1 percent after a 0.1 percent drop in the previous month. Wage Growth in Japan averaged 3.29 percent from 1972 until 2018, 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.