Japan's Real Wages Continue Downward Trend, Marking 26th Month of Decline

Monday, 8 July 2024, 02:39

In May, Japan experienced a 1.4% decrease in real wages compared to the previous year, setting a record for the 26th consecutive month of decline. Despite the country's highest pay increase in over 30 years, wages have failed to keep pace with inflation, according to government data. This prolonged downturn raises concerns about the overall economic stability and consumer purchasing power in Japan.

Kyodonews — Japan's Real Wages Continue Downward Trend, Marking 26th Month of Decline

Japan Real Wages Decline Overview

In May, Japan's real wages dropped by 1.4% compared to the previous year.

Reason for Decline

This marks the 26th consecutive month of decrease in real wages.

Highest pay hike in three decades is insufficient to counter inflation.

This extended period of decline raises questions about economic resilience and consumer spending in Japan.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

Japan Real Wages Decline Overview

Reason for Decline

Related posts