Japan's Real Wages Rise for Fourth Consecutive Month, Bolstering Rate Hike Prospects
2026-06-05 00:05:57
Japan's real wages have increased for the fourth consecutive month, marking the longest streak of growth in four years, which strengthens the case for a rate hike by the Bank of Japan this month. According to Jin10, a report released by Japan's Ministry of Health, Labour and Welfare on Friday indicated that inflation-adjusted real wages rose by 1.9% year-on-year, accelerating from the revised 1.4% increase in the previous month. This figure surpassed economists' earlier expectations of a 1.7% rise. Nominal wages grew by 3.5%, also exceeding the market's general forecast of 3.1%. Basic wages increased by 3.4%, while another wage indicator closely monitored by Bank of Japan officials, which effectively avoids sampling errors, showed that full-time workers' wages grew by 2.6%. Both data points suggest that the underlying momentum for wage growth in Japan remains robust.
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