Japan Nov real wages rise for first time in 11 months

By Kitco News / January 08, 2018 / www.kitco.com / Article Link

TOKYO, Jan 9 (Reuters) - Japanese wages rose 0.1 percent in November from a year earlier after adjustments for inflation, offering hope that consumer spending will start to strengthen.

The increase was the first in 11 months, which is also an encouraging sign that workers had more money to spend during the crucial year-end shopping season.

Nominal cash earnings rose 0.9 percent in November from the same period a year earlier, the largest increase in two months, labour ministry data showed on Tuesday.

The increase in nominal earnings was due partly to an increase in winter bonus payments, according to a labour ministry official.

Special payments, which include bonuses, rose an annual 7.5 percent, the fastest gain in two months, the data showed.

Overtime pay rose 2.6 percent in November from a year earlier. This marked the fastest pace in more than three years, though the official noted that overtime pay is relatively small so the base for comparison is not large.

The following table shows preliminary data for monthly incomes and numbers of workers in November: ----------------------------------------------------------------Payments (amount) (yr/yr pct change)Total cash earnings 278,173 yen+0.9-Monthly wage 261,770 yen+0.6 -Regular pay 241,303 yen+0.4 -Overtime pay 20,467 yen+2.6-Special payments16,403 yen+7.5 ----------------------------------------------------------------Number of workers(million)(yr/yr pct change)Overall50.601 mln+2.6-General employees 35.074 mln+3.1-Part-time employees 15.528 mln+1.7 ----------------------------------------------------------------

The ministry defines "workers" as 1) those who are employed for more than one month at a firm that employs more than five people, or 2) those who are employed on a daily basis or have less than a one-month contract but had worked more than 18 days during the two months before the survey was conducted at a firm that employs more than five people.

To view the full tables, see the labour ministry's website at: (Reporting by Stanley White; Editing by Richard Borsuk)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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