Average cash earnings in Japan increased 0.2% in October 2021 from a year earlier, similar to the increase in September but fell short of market expectations for a 0.7% growth. Japan’s wage growth remained weak amid signs that global inflation continued to affect Japanese households, prompting prime minister Fumio Kishida to vow to ensure workers’ wage hikes through tax breaks. Wage growth holds the key to the premier's aim of defeating deflation by reversing a cycle of tame wage growth and weak consumer spending while encouraging Japanese firms to spend their record cash piles on boosting wages and investment. Earnings mainly increased in mining & quarrying (11.5%), accommodations (3%) and wholesale & retail trade (2.1%), while earnings decreased in education (-2.4%), finance & insurance (-1.6%) and medical & health care (-1%). source: Ministry of Health, Labour and Welfare, Japan
Wage Growth in Japan averaged 3.08 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 December of 2021.
Wage Growth in Japan is expected to be 3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. 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.