Japanese workers' real wages in negative territory for 3 consecutive months

The real wages of Japanese workers have declined for three consecutive months.

According to the October Labor Statistics Survey released today (24th) by Japan's Ministry of Health, Labor and Welfare, the average nominal wage per worker of companies with five or more employees was 292,430 yen per month and 2.71 million won in Korean money, up 2.2% from the same month last year.

Real wages, taking into account price fluctuations, fell 0.4% from a year ago, marking the third consecutive month of decline.

The October breaking news released earlier on the 6th showed that real wage growth had stopped negative march, but the confirmed figure reflecting additional data confirmed that the decline continued.

Real wages for Japanese workers have declined for 26 consecutive months since April 2022 through May this year, before rising in June and July on the back of increased summer bonuses and turning negative again from August.