Wages data from Japan for April 2024:
Labour Cash Earnings +2.1% y/y
- expected +1.8%,
prior +1.0%
Real Cash Earnings
(i.e. after inflation) -0.7% y/y
- expected -0.9%,
prior -2.1%
Regular pay, says the stats people, is +2.3% y/y (overtime -0.6%), its quickest rise since October of 1994.
The Bank of Japan and the administration there more widely, are looking for rising wages to drive inflation higher (deamdn oull inflation).
USD/JPY update:
