Japan’s Real Wages Suffer Biggest Drop Since 2015

Japan’s Real Wages Suffer Biggest Drop Since 2015

TOKYO, Dec 7 (NNN-NHK) – Japan’s inflation-adjusted real wages in Oct fell 2.6 percent from a year before, the biggest drop since Jun, 2015, the laboUr ministry said yesterday, in a preliminary report.

Preliminary figures showed that, the index dropped for the 7th straight month, as higher consumer prices, including energy bills and food costs, outpaced increases in nominal wages.

Total nominal wages per worker in Oct rose 1.8 percent from a year earlier to 275,888 yen, or about 2,000 U.S. dollars, on average, up for the 10th consecutive month, according to the report.

To combat rising inflation, the Japanese government approved in Oct, a 39-trillion-yen (286-billion-U.S. dollar) comprehensive economic package, which was backed by an extra budget of 29.1 trillion yen (213.4 billion U.S. dollars).– NNN-NHK


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