TOKYO : Japan's wages rose in April as major companies lifted pay at the fastest pace in three decades on workers' increased demands for salaries to keep up with inflation, but households' spending remained weak and underlined a patchy economic recovery.The April wage data provides an early glimpse of the
TOKYO : Japan's wages rose in April as major companies lifted pay at the fastest pace in three decades on workers' increased demands for salaries to keep up with inflation, but households' spending remained weak and underlined a patchy economic recovery.
Total cash earnings, or nominal wages, grew 1.0 per cent in April from a year earlier, the labour ministry data showed. The growth was smaller than a revised 1.3 per cent rise logged in March. Inflation-adjusted real wages fell 3.0 per cent, marking the 13th straight month of year-on-year declines, as persistently high consumer inflation outstrips nominal pay growth and squeezes households' buying power.
The weaker spending data suggests the economic recovery will remain shallow until consumption takes off, as a global slowdown takes a toll on Japan's key export sector.
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