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.

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Japan Total Cash Earnings Growth


Calendar GMT Actual Previous Consensus TEForecast
2021-11-08 11:30 PM Sep 0.2% 0.6% 0.5%
2021-12-06 11:30 PM Oct 0.2% 0.2% 0.7% 0.5%
2022-01-06 11:30 PM Nov


Related Last Previous Unit Reference
Full Time Employment 22126.00 22182.00 Thousand Sep/21
Part Time Employment 7351.00 7372.00 Thousand Sep/21
Job Vacancies 802.82 799.91 Thousand Oct/21
Wages 304417.00 305911.00 JPY/Month Sep/21
Wage Growth 0.20 0.20 percent Oct/21
Minimum Wages 930.00 902.00 JPY/Hour Oct/21
Wages in Manufacturing 335241.00 340788.00 JPY/Month Sep/21
Retirement Age Women 65.00 63.00 Dec/20
Retirement Age Men 65.00 63.00 Dec/20
Jobs To Applications Ratio 1.15 1.16 Oct/21

News Stream
Japan Cash Earnings Rise Less than Expected
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%).
2021-12-07
Japan Cash Earnings Rise the Least in 3 Months
Average cash earnings in Japan rose by 0.2 percent year-on-year in September 2021, and after a downwardly revised 0.6 percent rise in August. This was the weakest rise in wage growth since June, amid signs that global cost-push inflation began to affect Japanese households. earnings mainly increased in mining & quarrying (14.4%), construction (2.4%), utilities (0.7 percent), manufacturing (1.7%), transport (0.3%), wholesale & retail trade (0.8%), real estate and leasing (3.5%), services (3.3%), and compound services (4.0%). In contrast, earnings fell in information (-1.1%), accommodations (-4.0%), finance & insurance (-3.0%), and education (-1.3%). Regular pay, meantime, went up 0.3% yoy, rising for the ninth month in a row. Overtime pay, a barometer of strength in business activity, grew 4.4% yoy in September. Special payment fell 2.3% yoy.
2021-11-09
Japan Cash Earnings Rise for 6th Month
Average cash earnings in Japan rose by 0.7 percent year-on-year in August 2021, and after a downwardly revised 0.6 percent rise in July. This was the sixth straight month of increase in wage growth, with earnings increasing in mining & quarrying (17.2%), construction (1.1%), manufacturing (2.7%), transport (2.5%), wholesale & retail trade (0.3%), real estate and leasing (5.0%), services (3.0%), and scientific research (2.0%). In contrast, earnings fell in utilities (-0.1%), information (-2.4%), accommodations (-1.0%), finance & insurance (-2.8%), and education (-1.7%). Regular pay, meantime, went up 0.2% yoy, rising for the eighth month in a row. Overtime pay, a barometer of strength in business activity, grew 6.5% yoy in August. Special payment rose 2.0% yoy.
2021-10-08

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.